Document and Entity Information
Document and Entity Information - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Mar. 23, 2017 | Jun. 30, 2016 | |
Document And Entity Information [Abstract] | |||
Document Type | 10-K | ||
Amendment Flag | false | ||
Document Period End Date | Dec. 31, 2016 | ||
Document Fiscal Year Focus | 2,016 | ||
Document Fiscal Period Focus | FY | ||
Trading Symbol | CSBB | ||
Entity Registrant Name | CSB BANCORP INC /OH | ||
Entity Central Index Key | 880,417 | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Filer Category | Smaller Reporting Company | ||
Entity Common Stock, Shares Outstanding | 2,742,242 | ||
Entity Public Float | $ 64.2 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Cash and cash equivalents | ||
Cash and due from banks | $ 13,590 | $ 17,341 |
Interest-earning deposits in other banks | 23,248 | 20,931 |
Total cash and cash equivalents | 36,838 | 38,272 |
Securities | ||
Available-for-sale, at fair value | 103,875 | 127,969 |
Held-to-maturity; fair value of $23,444 in 2016 and $34,011 in 2015 | 23,883 | 33,819 |
Restricted stock, at cost | 4,614 | 4,614 |
Total securities | 132,372 | 166,402 |
Loans held for sale | 47 | |
Loans | 475,449 | 422,871 |
Less allowance for loan losses | 5,291 | 4,662 |
Net loans | 470,158 | 418,209 |
Premises and equipment, net | 8,749 | 8,209 |
Core deposit intangible | 383 | 504 |
Goodwill | 4,728 | 4,728 |
Bank-owned life insurance | 10,361 | 10,085 |
Accrued interest receivable and other assets | 6,389 | 3,858 |
TOTAL ASSETS | 669,978 | 650,314 |
Deposits | ||
Noninterest-bearing | 167,824 | 151,549 |
Interest-bearing | 372,961 | 373,493 |
Total deposits | 540,785 | 525,042 |
Short-term borrowings | 48,742 | 48,598 |
Other borrowings | 12,385 | 13,465 |
Accrued interest payable and other liabilities | 2,651 | 1,943 |
Total liabilities | 604,563 | 589,048 |
SHAREHOLDERS' EQUITY | ||
Common stock, $6.25 par value. Authorized 9,000,000 shares; issued 2,980,602 shares; outstanding 2,742,242 shares in 2016 and 2,740,996 in 2015 | 18,629 | 18,629 |
Additional paid-in capital | 9,815 | 9,846 |
Retained earnings | 42,629 | 38,030 |
Treasury stock at cost - 238,360 shares in 2016 and 239,606 in 2015 | (4,784) | (4,822) |
Accumulated other comprehensive loss | (874) | (417) |
Total shareholders' equity | 65,415 | 61,266 |
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | $ 669,978 | $ 650,314 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Statement of Financial Position [Abstract] | ||
Held-to-maturity, fair value | $ 23,444 | $ 34,011 |
Common stock, par value | $ 6.25 | $ 6.25 |
Common stock, authorized shares | 9,000,000 | 9,000,000 |
Common stock, shares issued | 2,980,602 | 2,980,602 |
Common stock, shares outstanding | 2,742,242 | 2,740,996 |
Treasury stock, at cost | 238,360 | 239,606 |
Consolidated Statements of Inco
Consolidated Statements of Income - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
INTEREST AND DIVIDEND INCOME | |||
Loans, including fees | $ 20,278 | $ 18,548 | $ 18,290 |
Taxable securities | 2,598 | 2,790 | 2,857 |
Nontaxable securities | 646 | 563 | 466 |
Other | 110 | 96 | 43 |
Total interest and dividend income | 23,632 | 21,997 | 21,656 |
INTEREST EXPENSE | |||
Deposits | 1,006 | 1,081 | 1,166 |
Short-term borrowings | 73 | 71 | 77 |
Other borrowings | 394 | 415 | 486 |
Total interest expense | 1,473 | 1,567 | 1,729 |
NET INTEREST INCOME | 22,159 | 20,430 | 19,927 |
PROVISION FOR LOAN LOSSES | 493 | 389 | 643 |
Net interest income, after provision for loan losses | 21,666 | 20,041 | 19,284 |
NONINTEREST INCOME | |||
Service charges on deposit accounts | 1,166 | 1,203 | 1,269 |
Trust services | 861 | 860 | 811 |
Debit card interchange fees | 1,087 | 988 | 910 |
Securities gains | 1 | 56 | 133 |
Gain on sale of loans, net | 309 | 363 | 198 |
Earnings on bank-owned life insurance | 276 | 270 | 264 |
Other income | 596 | 684 | 665 |
Total noninterest income | 4,296 | 4,424 | 4,250 |
NONINTEREST EXPENSES | |||
Salaries and employee benefits | 9,354 | 8,819 | 8,321 |
Occupancy expense | 973 | 1,027 | 1,014 |
Equipment expense | 679 | 663 | 715 |
Professional and director fees | 832 | 830 | 725 |
Financial institutions and franchise tax | 427 | 400 | 361 |
Marketing and public relations | 415 | 419 | 378 |
Software expense | 799 | 801 | 727 |
Debit card expense | 445 | 413 | 421 |
Amortization of intangible assets | 121 | 125 | 130 |
FDIC insurance expense | 282 | 357 | 358 |
Other expenses | 1,928 | 1,942 | 1,932 |
Total noninterest expenses | 16,255 | 15,796 | 15,082 |
Income before income taxes | 9,707 | 8,669 | 8,452 |
FEDERAL INCOME TAX PROVISION | 2,969 | 2,647 | 2,568 |
NET INCOME | $ 6,738 | $ 6,022 | $ 5,884 |
NET INCOME PER SHARE | |||
Basic | $ 2.46 | $ 2.20 | $ 2.15 |
Diluted | $ 2.46 | $ 2.20 | $ 2.15 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Statement of Comprehensive Income [Abstract] | |||
Net income | $ 6,738 | $ 6,022 | $ 5,884 |
Other comprehensive income (loss) | |||
Unrealized gains (losses) arising during the period | (1,221) | (551) | 1,612 |
Amounts reclassified from accumulated other comprehensive income, held-to-maturity | 530 | 403 | 301 |
Income tax effect | 235 | 50 | (651) |
Reclassification adjustment for gains on available-for-sale securities included in net income | (1) | (56) | (133) |
Income tax effect | 19 | 45 | |
Other comprehensive income (loss) | (457) | (135) | 1,174 |
Total comprehensive income | $ 6,281 | $ 5,887 | $ 7,058 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Shareholders' Equity - USD ($) $ in Thousands | Total | Common Stock [Member] | Additional Paid-In Capital [Member] | Retained Earnings [Member] | Treasury Stock [Member] | Accumulated Other Comprehensive Income (Loss) [Member] |
Balance at beginning of period at Dec. 31, 2013 | $ 52,411 | $ 18,629 | $ 9,964 | $ 30,232 | $ (4,958) | $ (1,456) |
Net income | 5,884 | 5,884 | ||||
Other comprehensive income (loss) | 1,174 | 1,174 | ||||
Stock options issued | 7 | (80) | 87 | |||
Cash dividends declared | (2,026) | (2,026) | ||||
Balance at end of period at Dec. 31, 2014 | 57,450 | 18,629 | 9,884 | 34,090 | (4,871) | (282) |
Net income | 6,022 | 6,022 | ||||
Other comprehensive income (loss) | (135) | (135) | ||||
Stock options issued | 11 | (38) | 49 | |||
Cash dividends declared | (2,082) | (2,082) | ||||
Balance at end of period at Dec. 31, 2015 | 61,266 | 18,629 | 9,846 | 38,030 | (4,822) | (417) |
Net income | 6,738 | 6,738 | ||||
Other comprehensive income (loss) | (457) | (457) | ||||
Stock options issued | 7 | (31) | 38 | |||
Cash dividends declared | (2,139) | (2,139) | ||||
Balance at end of period at Dec. 31, 2016 | $ 65,415 | $ 18,629 | $ 9,815 | $ 42,629 | $ (4,784) | $ (874) |
Consolidated Statements of Cha7
Consolidated Statements of Changes in Shareholders' Equity (Parenthetical) - $ / shares | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Statement of Stockholders' Equity [Abstract] | |||
Stock options issued, shares | 1,246 | 1,591 | 2,771 |
Cash dividends declared per share | $ 0.78 | $ 0.76 | $ 0.74 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
CASH FLOWS FROM OPERATING ACTIVITIES | |||
Net income | $ 6,738 | $ 6,022 | $ 5,884 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Depreciation and amortization of premises, equipment and software | 905 | 916 | 928 |
Deferred income taxes | (4) | 83 | 175 |
Provision for loan losses | 493 | 389 | 643 |
Gain on sale of loans, net | (309) | (363) | (198) |
Securities gains | (1) | (56) | (133) |
Security amortization, net of accretion | 802 | 575 | 361 |
Secondary market loan sale proceeds | 10,985 | 12,414 | 6,506 |
Originations of secondary market loans held-for-sale | (10,682) | (12,083) | (6,383) |
Bank-owned life insurance | (276) | (270) | (264) |
Effects of changes in operating assets and liabilities: | |||
Net deferred loan (fees) costs | (262) | (89) | (81) |
Accrued interest receivable | 103 | (184) | 45 |
Accrued interest payable | (4) | (4) | (12) |
Other assets and liabilities | (1,521) | 316 | (308) |
Net cash provided by operating activities | 6,967 | 7,666 | 7,163 |
Securities: | |||
Proceeds from repayments, available-for-sale | 49,870 | 39,187 | 35,337 |
Proceeds from repayments, held-to-maturity | 19,404 | 14,834 | 9,273 |
Purchases, available-for-sale | (27,741) | (69,684) | (34,893) |
Purchases, held-to-maturity | (8,998) | (10,000) | (3,000) |
Proceeds from sale of securities | 1 | 1,576 | 2,483 |
Proceeds from redemption of restricted stock | 849 | ||
Loan originations, net of repayments | (52,213) | (6,023) | (33,043) |
Purchase of residential real estate loans | (5,964) | ||
Proceeds from sale of other real estate | 26 | ||
Property, equipment and software acquisitions | (1,418) | (611) | (427) |
Net cash used in investing activities | (21,069) | (36,685) | (23,421) |
CASH FLOWS FROM FINANCING ACTIVITIES | |||
Net change in deposits | 15,743 | 24,967 | 19,151 |
Net change in short-term borrowings | 144 | 1,971 | (2,044) |
Proceeds from other borrowings | 5,000 | ||
Repayment of other borrowings | (1,080) | (1,488) | (2,506) |
Cash dividends paid | (2,139) | (2,082) | (2,026) |
Proceeds from stock options exercised | 7 | ||
Net cash provided by financing activities | 12,668 | 23,368 | 17,582 |
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | (1,434) | (5,651) | 1,324 |
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR | 38,272 | 43,923 | 42,599 |
CASH AND CASH EQUIVALENTS AT END OF YEAR | 36,838 | 38,272 | 43,923 |
Cash paid during the year for: | |||
Interest | 1,477 | 1,571 | 1,750 |
Income taxes | 2,650 | $ 2,180 | $ 2,500 |
Noncash investing activities: | |||
Transfer of loans to other real estate owned | $ 72 |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2016 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES CSB Bancorp, Inc. (the “Company” or “CSB”) was incorporated in 1991 in the State of Ohio, and is a registered bank holding company. The Company’s wholly-owned subsidiaries are The Commercial and Savings Bank of Millersburg, Ohio (the “Bank”) and CSB Investment Services, LLC. The Company, through its subsidiaries, operates in one industry segment; the commercial banking industry. The Bank, an Ohio-chartered bank organized in 1879, provides financial services through its sixteen Banking Centers located in Holmes, Tuscarawas, Wayne, and Stark counties. These communities are the source of substantially all deposit, loan, and trust activities. The majority of the Bank’s income is derived from commercial, retail lending activities, and investments in securities. Its primary deposit products are checking, savings, and term certificate accounts. Its primary lending products are residential real estate, commercial real estate, commercial, and installment loans. Substantially, all loans are secured by specific items of collateral including business assets, consumer assets, and real estate. Commercial loans are expected to be repaid with cash flow from business operations. Real estate loans are secured by both residential and commercial real estate. Significant accounting policies followed by the Company are presented below: USE OF ESTIMATES IN PREPARING FINANCIAL STATEMENTS In preparing the Consolidated Financial Statements, in conformity with U.S. generally accepted accounting principles, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the Consolidated Balance Sheets and reported amounts of revenues and expenses during each reporting period. Actual results could differ from those estimates. The most significant estimates susceptible to change in the near term relate to management’s determination of the allowance for loan losses and the fair value of financial instruments. PRINCIPLES OF CONSOLIDATION The Consolidated Financial Statements include the accounts of the Company and its wholly-owned subsidiaries. All significant inter-company balances and transactions have been eliminated in consolidation. The Bank has a trust department and the assets held by the Bank in fiduciary or agency capacities for its customers are not included in the Consolidated Balance Sheets as such items are not assets of the Bank. CASH AND CASH EQUIVALENTS For purposes of the Consolidated Statements of Cash Flows, cash, and cash equivalents include cash on hand and amounts due from banks which mature overnight or within ninety days. CASH RESERVE REQUIREMENTS The Bank generally is required by the Federal Reserve to maintain reserves consisting of cash on hand and noninterest-earning balances on deposit with the Federal Reserve Bank. There was no required reserve balance at December 31, 2016 and 2015. SECURITIES At the time of purchase all securities are evaluated and designated as available-for-sale held-to-maturity. available-for-sale held-to-maturity. available-for Held-to-maturity held-to-maturity. The amortized cost of debt securities is adjusted for amortization of premiums and accretion of discounts to maturity based on the interest method. Such amortization and accretion is included in interest and dividends on securities. Gains and losses on sales of securities are accounted for on a trade date basis, using the specific identification method, and are included in noninterest income. Securities are periodically reviewed for other-than-temporary impairment based upon a number of factors, including, but not limited to: the length of time and extent to which the market value has been less than cost, the financial condition of the underlying issuer, the receipt of principal and interest according to the contractual terms, the ability of the issuer to meet contractual obligations, the likelihood of the security’s ability to recover any decline in its market value and management’s intent, and ability to hold the security for a period of time sufficient to allow for a recovery in market value. Among the factors that are considered in determining management’s intent and ability to hold the security is a review of the Company’s capital adequacy, interest rate risk position, and liquidity. The assessment of a security’s ability to recover any decline in market value, the ability of the issuer to meet contractual obligations, and management’s intent and ability to hold the security requires considerable judgment. A decline in value that is considered to be other-than-temporary is recorded as a loss within noninterest income in the Consolidated Statements of Income. Investments in FHLB and Federal Reserve Bank stock are classified as restricted stock, carried at cost, and evaluated for impairment. The Bank is required to maintain an investment in common stock of the FHLB and Federal Reserve Bank because the Bank is a member of the FHLB and the Federal Reserve System. We consider these stocks to be nonmarketable equity securities. Federal Home Loan Bank of Cincinnati reported profits for 2016 and 2015, remains in compliance with regulatory capital and liquidity requirements, continues to pay dividends on the stock and redeems its stock at par value. With consideration given to these factors, management concluded that the stock was not impaired at December 31, 2016 or 2015. LOANS Loans that management has the intent and ability to hold for the foreseeable future, until maturity, or pay-off, Interest income is not reported when full repayment is in doubt, typically when the loan is impaired or payments are past due over 90 days. All interest accrued but not collected for loans that are placed on nonaccrual or charged-off At origination, a determination is made whether a loan will be held in the Bank’s portfolio or is intended for sale in the secondary market. Mortgage loans held for sale are recorded at the lower of the aggregate cost or fair value. Generally these loans are held for sale for less than three days. The Bank recognizes gains and losses on sales of the loans held for sale when the sale is completed. ALLOWANCE FOR LOAN LOSSES The allowance for loan losses is established as losses are estimated to have occurred through a provision for loan losses charged to income. Loan losses are charged against the allowance when management believes the uncollectibility of a loan balance is confirmed. Subsequent recoveries, if any, are credited to the allowance. The allowance for loan losses is evaluated on a regular basis by management and is based upon management’s periodic review of the collectability of the loans in light of historical experience, the nature and volume of the loan portfolio, adverse situations that may affect borrowers’ ability to repay, estimated value of any underlying collateral, and prevailing economic conditions. This evaluation is inherently subjective as it requires estimates that are susceptible to significant revision as more information becomes available. A loan is considered impaired when, based on current information and events, it is probable that the Company will be unable to collect the scheduled payments of principal or interest when due according to the contractual terms of the loan agreement. Factors considered by management in determining impairment include payment status, collateral value, and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not classified as impaired. Management determines the significance of payment delays and payment shortfalls on a case-by-case loan-by-loan Large groups of smaller balance homogeneous loans are collectively evaluated for impairment. Accordingly, the Company does not separately identify individual residential real estate or consumer loans for impairment disclosures. OTHER REAL ESTATE OWNED Other real estate acquired through or in lieu of foreclosure is initially recorded at fair value, less estimated costs to sell, and any loan balance in excess of fair value is charged to the allowance for loan losses. Subsequent valuations are periodically performed and write-downs are included in noninterest expenses, as well as expenses related to maintenance of the properties. Gains or losses upon sale are recorded through noninterest income. There was no other real estate owned at December 31, 2016 and 2015. PREMISES AND EQUIPMENT Premises and equipment are stated at cost, less accumulated depreciation, and amortization. Upon the sale or disposition of the assets, the difference between the depreciated cost and proceeds is charged or credited to income. Depreciation and amortization is determined based on the estimated useful lives of the individual assets (typically 20 to 40 years for buildings and 3 to 10 years for equipment) and is computed using the straight-line method. Leasehold improvements are amortized over the useful life of the asset, or lease term, whichever is shorter. GOODWILL AND CORE DEPOSIT INTANGIBLE ASSETS Goodwill is not amortized, but is tested at least annually for impairment in the fourth quarter or more frequently if indicators of impairment are present. The evaluation for impairment involves comparing the estimated current fair value of the reporting unit to its carrying value, including goodwill. If the estimated current fair value of a reporting unit exceeds its carrying value, no additional testing is required and an impairment loss is not recorded. The Company uses market capitalization and multiples of tangible book value methods to determine the estimated current fair value of its reporting unit. Based on this analysis no impairment was recorded in 2016 or 2015. The core deposit intangible assets are assigned useful lives, which are amortized on an accelerated basis over their weighted average lives. The Company periodically reviews the intangible asset for impairment as events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable. MORTGAGE SERVICING RIGHTS Mortgage servicing rights (“MSRs”) represent the right to service loans for third-party investors. MSRs are recognized as a separate asset upon the sale of mortgage loans to a third-party investor with the servicing rights retained by the Company. Originated MSRs are recorded at allocated fair value at the time of the sale of the loans to the third-party investor. MSRs are amortized in proportion to and over the estimated period of net servicing income. MSRs are carried at amortized cost, less a valuation allowance for impairment, if any. MSRs are evaluated on a discounted earnings basis to determine the present value of future earnings of the underlying serviced mortgages. All assumptions are reviewed annually, or more frequently if necessary, adjusted to reflect current, and anticipated market conditions. BANK-OWNED LIFE INSURANCE The cash surrender value of these policies is included as an asset on the Consolidated Balance Sheets and any increases in the cash surrender value are recorded as noninterest income on the Consolidated Statements of Income. In the event of the death of an insured individual under these policies, the Company would receive a death benefit, which would be recorded as noninterest income. REPURCHASE AGREEMENTS Substantially all securities sold under repurchase agreements represent amounts advanced by various customers. Securities owned by the Bank are pledged to secure those obligations. Repurchase agreements are not deposits and are not covered by federal deposit insurance. ADVERTISING COSTS All advertising costs are expensed as incurred. Advertising expenses amounted to $215 thousand, $229 thousand, and $182 thousand for the years ended 2016, 2015, and 2014, respectively. FEDERAL INCOME TAXES The Company and its subsidiaries file a consolidated tax return. Deferred income taxes are provided on temporary differences between financial statement and income tax reporting. Temporary differences are differences between the amounts of assets, liabilities reported for financial statement purposes, and their tax bases. Deferred tax assets are recognized for temporary differences that will be deductible in future years’ tax returns and for operating loss and tax credit carry forwards. Deferred tax assets are reduced by a valuation allowance if it is deemed more likely than not that some or all of the deferred tax assets will not be realized. Deferred tax liabilities are recognized for temporary differences that will be taxable in future years’ tax returns. The Bank, domiciled in Ohio, is not currently subject to state and local income taxes. STOCK-BASED COMPENSATION The Company previously sponsored a stock-based compensation plan that expired in 2013. All outstanding awards at December 31, 2015 were exercised during the first quarter of 2016. There were no stock options outstanding at December 31, 2016. The Company recorded no stock-based compensation expense for 2016, 2015, or 2014. COMPREHENSIVE INCOME The Company includes recognized revenue, expenses, gains, and losses in net income. Although certain changes in assets and liabilities, such as unrealized gains and losses on available-for-sale TRANSFERS OF FINANCIAL ASSETS Transfers of financial assets are accounted for as sales when control over the assets has been surrendered. Control over transferred assets is deemed to be surrendered when (1) the assets have been isolated from the Company, (2) the transferee obtains the right (free of conditions that constrain it from taking advantage of that right) to pledge or exchange the transferred assets, and (3) the Company does not maintain effective control over the transferred assets through an agreement to repurchase them before their maturity. PER SHARE DATA Basic net income per share is computed based on the weighted average number of shares of common stock outstanding during each year. Diluted income per common share includes the dilutive effect of additional potential common shares issuable under stock options. The weighted average number of common shares outstanding for basic and diluted earnings per share computations was as follows: 2016 2015 2014 Weighted average common shares 2,980,602 2,980,602 2,980,602 Average treasury shares (238,574 ) (241,132 ) (242,966 ) Total weighted average common shares outstanding (basic) 2,742,028 2,739,470 2,737,636 Dilutive effect of assumed exercise of stock options – 2,638 1,442 Weighted average common shares outstanding (diluted) 2,742,028 2,742,108 2,739,078 Dividends per share are based on the number of shares outstanding at the declaration date. There were no stock options outstanding at December 31, 2016 with 5,952 stock options outstanding at December 31, 2015. RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS ASU 2014-09 2014-09 one-year year-end, ASU 2016-01 ASU 2016-02 right-of-use ASU 2016-13 ASU 2016-15 ASU 2016-19 ASU 2017-03 RECLASSIFICATION OF COMPARATIVE AMOUNTS Certain comparative amounts from the prior years have been reclassified to conform to current year classifications. Such classifications had no effect on net income or shareholders’ equity. |
Securities
Securities | 12 Months Ended |
Dec. 31, 2016 | |
Investments, Debt and Equity Securities [Abstract] | |
Securities | NOTE 2 – SECURITIES Securities consisted of the following at December 31: (Dollars in thousands) Amortized Gross Gross Fair 2016 Available-for-sale U.S. Treasury security $ 1,001 $ – $ – $ 1,001 U.S. Government agencies 6,500 – 98 6,402 Mortgage-backed securities of government agencies 56,187 239 589 55,837 Other mortgage-backed securities 65 – – 65 Asset-backed securities of government agencies 1,312 – 46 1,266 State and political subdivisions 30,007 140 439 29,708 Corporate bonds 9,632 28 144 9,516 Equity securities 53 27 – 80 Total available-for-sale 104,757 434 1,316 103,875 Held-to-maturity U.S. Government agencies 9,472 17 396 9,093 Mortgage-backed securities of government agencies 14,411 141 201 14,351 Total held-to-maturity 23,883 158 597 23,444 Restricted stock 4,614 – – 4,614 Total securities $ 133,254 $ 592 $ 1,913 $ 131,933 2015 Available-for-sale U.S. Treasury security $ 1,002 $ – $ 2 $ 1,000 U.S. Government agencies 18,239 5 126 18,118 Mortgage-backed securities of government agencies 62,930 527 278 63,179 Other mortgage-backed securities 104 – – 104 Asset-backed securities of government agencies 1,464 – 72 1,392 State and political subdivisions 24,924 418 41 25,301 Corporate bonds 18,912 7 108 18,811 Equity securities 53 11 – 64 Total available-for-sale 127,628 968 627 127,969 Held-to-maturity U.S. Government agencies 15,586 312 46 15,852 Mortgage-backed securities of government agencies 18,233 81 155 18,159 Total held-to-maturity 33,819 393 201 34,011 Restricted stock 4,614 – – 4,614 Total securities $ 166,061 $ 1,361 $ 828 $ 166,594 The amortized cost and fair value of debt securities at December 31, 2016, by contractual maturity, are shown below. Actual maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. (Dollars in thousands) Amortized Fair Available-for-sale Due in one year or less $ 4,313 $ 4,315 Due after one through five years 22,039 22,037 Due after five through ten years 23,715 23,452 Due after ten years 54,637 53,991 Total debt securities available-for-sale $ 104,704 $ 103,795 Held-to-maturity Due in one year or less $ – $ – Due after one through five years – – Due after five through ten years 3,474 3,334 Due after ten years 20,409 20,110 Total debt securities held-to-maturity $ 23,883 $ 23,444 Securities with a carrying value of approximately $94.8 million and $100.5 million were pledged at December 31, 2016 and 2015, respectively, to secure public deposits, as well as other deposits and borrowings as required or permitted by law. Restricted stock primarily consists of investments in FHLB and Federal Reserve Bank stock. The Bank’s investment in FHLB stock amounted to $4.1 million at December 31, 2016 and 2015, respectively. Federal Reserve Bank stock was $471 thousand at December 31, 2016 and 2015. The following table shows the proceeds from sales of available-for-sale (Dollars in thousands) 2016 2015 2014 Proceeds $ 1 $ 1,576 $ 2,483 Realized gains $ 1 $ 56 $ 133 Realized losses – – – Net securities gains $ 1 $ 56 $ 133 The following table presents gross unrealized losses, fair value of securities, aggregated by investment category, and length of time that individual securities have been in a continuous unrealized loss position, at December 31: Securities in a Continuous Unrealized Loss Position Less Than 12 Months 12 Months Or More Total (Dollars in thousands) Gross Fair Gross Fair Gross Fair 2016 Available-for-sale U.S. Government agencies $ 98 $ 6,402 $ – $ – $ 98 $ 6,402 Mortgage-backed securities of government agencies 589 27,243 – – 589 27,243 Asset-backed securities of government agencies – – 46 1,266 46 1,266 State and political subdivisions 439 19,328 – – 439 19,328 Corporate bonds 33 3,593 111 1,889 144 5,482 Held-to-maturity U.S. Government agencies 396 8,602 – – 396 8,602 Mortgage-backed securities of government agencies 28 2,018 173 3,621 201 5,639 Total temporarily impaired securities $ 1,583 $ 67,186 $ 330 $ 6,776 $ 1,913 $ 73,962 2015 Available-for-sale U.S. Treasury security $ 2 $ 1,000 $ – $ – $ 2 $ 1,000 U.S. Government agencies 67 9,172 59 4,941 126 14,113 Mortgage-backed securities of government agencies 278 20,231 – – 278 20,231 Asset-backed securities of government agencies 72 1,392 – – 72 1,392 State and political subdivisions 33 2,652 8 1,120 41 3,772 Corporate bonds 108 15,282 – – 108 15,282 Held-to-maturity U.S. Government agencies 46 5,954 – – 46 5,954 Mortgage-backed securities of government agencies 155 12,994 – – 155 12,994 Total temporarily impaired securities $ 761 $ 68,677 $ 67 $ 6,061 $ 828 $ 74,738 There were 93 securities in an unrealized loss position at December 31, 2016, five of which were in a continuous loss position for twelve or more months. At least quarterly, the Company conducts a comprehensive security-level impairment assessment. The assessments are based on the nature of the securities, the extent and duration of the securities, the extent and duration of the loss, and management’s intent to sell or if it is more likely than not that management will be required to sell a security before recovery of its amortized cost basis, which may be maturity. Management believes the Company will fully recover the cost of these securities and it does not intend to sell these securities and likely will not be required to sell them before the anticipated recovery of the remaining amortized cost basis, which may be maturity. As a result, management concluded that these securities were not other-than-temporarily impaired at December 31, 2016. |
Loans
Loans | 12 Months Ended |
Dec. 31, 2016 | |
Receivables [Abstract] | |
Loans | NOTE 3 – LOANS Loans consisted of the following at December 31: (Dollars in thousands) 2016 2015 Commercial $ 134,268 $ 123,143 Commercial real estate 159,475 148,775 Residential real estate 144,489 125,775 Construction & land development 23,428 15,452 Consumer 13,308 9,268 Total loans before deferred costs 474,968 422,413 Deferred loan costs 481 458 Total loans $ 475,449 $ 422,871 Loan Origination/Risk Management The Company has certain lending policies and procedures in place that are designed to maximize loan income within an acceptable level of risk. Management reviews and approves these policies and procedures on a regular basis. A reporting system supplements the review process by providing management with frequent reports related to loan production, loan quality, concentrations of credit, loan delinquencies, and nonperforming and potential problem loans. Diversification in the loan portfolio is a means of managing risk associated with fluctuations in economic conditions. Commercial loans are underwritten after evaluating and understanding the borrower’s ability to operate profitably and prudently expand their business. Underwriting standards are designed to promote relationship banking rather than transactional banking. The Company’s management examines current and occasionally projected cash flows to determine the ability of the borrower to repay their obligations as agreed. Commercial loans are primarily made based on the identified cash flows of the borrower and secondarily on the underlying collateral provided by the borrower. However, the cash flows of borrowers may not be as expected and the collateral securing these loans may fluctuate in value. Most commercial loans are secured by the assets being financed or other business assets, such as accounts receivable or inventory, and may incorporate a personal guarantee; however, some short-term loans may be made on an unsecured basis. In the case of loans secured by accounts receivable, the availability of funds for the repayment of these loans may be substantially dependent on the ability of the borrower to collect amounts due from its customers. Commercial real estate loans are subject to underwriting standards and processes similar to commercial loans, in addition to those of real estate loans. These loans are viewed primarily as cash flow loans and secondarily as loans secured by real estate. Commercial real estate lending typically involves higher loan principal amounts and the repayment of these loans is largely dependent on the successful operation of the property securing the loan or the business conducted on the property securing the loan. Commercial real estate loans may be adversely affected by conditions in the real estate markets or in the general economy. The properties securing the Company’s commercial real estate portfolio are diverse in terms of type. This diversity helps reduce the Company’s exposure to adverse economic events that affect any single industry. Management monitors and evaluates commercial real estate loans based on collateral, geography, and risk grade criteria. In addition, management tracks the level of owner-occupied commercial real estate loans versus non-owner With respect to loans to developers and builders that are secured by non-owner pre-committed on-site The Company originates consumer loans utilizing a judgmental underwriting process. Policies and procedures are developed and modified, as needed, jointly by line and staff personnel to monitor and manage consumer loan risk. This activity, coupled with relatively small loan amounts that are spread across many individual borrowers, minimizes risk. The Company maintains an independent loan review department that reviews and validates the credit risk program on a periodic basis. Results of these reviews are presented to management. The loan review process complements and reinforces the risk identification and assessment decisions made by lenders and credit personnel, as well as the Company’s policies and procedures. Concentrations of Credit Nearly all of the Company’s lending activity occurs within the State of Ohio, including the four counties of Holmes, Stark, Tuscarawas, and Wayne, as well as other markets. The majority of the Company’s loan portfolio consists of commercial and industrial and commercial real estate loans. As of December 31, 2016 and 2015, there were no concentrations of loans to any single industry. Allowance for Loan Losses The following table details activity in the allowance for loan losses by portfolio segment for the years ended December 31, 2016, 2015, and 2014. Allocation of a portion of the allowance to one category of loans does not preclude its availability to absorb losses in other categories. During 2016, the largest increase in the provision for loan losses occurred in the commercial loan category. The increase was primarily due to the specific allocation related to one loan relationship along with charge-offs of loans in this category. The increase in the provision amounts allocated to the remaining loan categories, primarily relate to loan growth. The decrease in the provision amount allocated to the commercial real estate category is primarily due to the recovery of prior loan charge-offs. During 2015, the increase in the provision for loan losses related to commercial loans was primarily due to an increase in the specific allowance related to impaired loans in this category. The decrease in the provision related to commercial real estate loans was due to the improved credit quality of loans in this category. The increase in the provision related to residential real estate loans was due to the increase in net charge-offs of loans in this category as well as the increase in loan volume. During 2014, the increase in the provision for loan losses related to commercial loans was primarily due to the increase in the historical loss rate of loans in this category. The increase in the provision related to commercial real estate loans was affected by an increase in loan balances, offset by a decrease in impaired loans. The decrease in the provision related to residential real estate loans was affected by the decrease in the specific allocation amounts related to impaired residential real estate loans, as well as a decrease in the historical loss rates of the loans in this category. The decrease in the provision related to construction and consumer loans was due to the decrease in the historical loss rates in both of these categories. Summary of Allowance for Loan Losses (Dollars in thousands) Commercial Commercial Residential Construction & Land Consumer Unallocated Total December 31, 2016 Beginning balance $ 1,664 $ 1,271 $ 1,086 $ 123 $ 86 $ 432 $ 4,662 Provision for loan losses 626 (291 ) 110 55 113 (120 ) 493 Charge-offs (297 ) (50 ) (12 ) – (59 ) (418 ) Recoveries 214 334 5 – 1 554 Net charge-offs (83 ) 284 (7 ) – (58 ) 136 Ending balance $ 2,207 $ 1,264 $ 1,189 $ 178 $ 141 $ 312 $ 5,291 December 31, 2015 Beginning balance $ 1,289 $ 1,524 $ 1,039 $ 142 $ 60 $ 327 $ 4,381 Provision for loan losses 285 (205 ) 161 (19 ) 62 105 389 Charge-offs (109 ) (61 ) (132 ) – (46 ) (348 ) Recoveries 199 13 18 – 10 240 Net charge-offs 90 (48 ) (114 ) – (36 ) (108 ) Ending balance $ 1,664 $ 1,271 $ 1,086 $ 123 $ 86 $ 432 $ 4,662 December 31, 2014 Beginning balance $ 1,219 $ 1,872 $ 1,205 $ 178 $ 91 $ 520 $ 5,085 Provision for loan losses 1,047 23 (164 ) (36 ) (34 ) (193 ) 643 Charge-offs (1,005 ) (379 ) (27 ) – (11 ) (1,422 ) Recoveries 28 8 25 – 14 75 Net charge-offs (977 ) (371 ) (2 ) – 3 (1,347 ) Ending balance $ 1,289 $ 1,524 $ 1,039 $ 142 $ 60 $ 327 $ 4,381 The following table presents the balance in the allowance for loan losses and the ending loan balances by portfolio segment and impairment method as of December 31: (Dollars in thousands) Commercial Commercial Residential Construction Consumer Unallocated Total 2016 Allowance for loan losses: Ending allowance balances attributable to loans: Individually evaluated for impairment $ 705 $ – $ 24 $ – $ – $ – $ 729 Collectively evaluated for impairment 1,502 1,264 1,165 178 141 312 4,562 Total ending allowance balance $ 2,207 $ 1,264 $ 1,189 $ 178 $ 141 $ 312 $ 5,291 Loans: Loans individually evaluated for impairment $ 5,028 $ 621 $ 1,507 $ – $ – $ 7,156 Loans collectively evaluated for impairment 129,240 158,854 142,982 23,428 13,308 467,812 Total ending loans balance $ 134,268 $ 159,475 $ 144,489 $ 23,428 $ 13,308 $ 474,968 2015 Allowance for loan losses: Ending allowance balances attributable to loans: Individually evaluated for impairment $ 299 $ 64 $ 26 $ – $ – $ – $ 389 Collectively evaluated for impairment 1,365 1,207 1,060 123 86 432 4,273 Total ending allowance balance $ 1,664 $ 1,271 $ 1,086 $ 123 $ 86 $ 432 $ 4,662 Loans: Loans individually evaluated for impairment $ 6,127 $ 1,064 $ 1,533 $ – $ – $ 8,724 Loans collectively evaluated for impairment 117,016 147,711 124,242 15,452 9,268 413,689 Total ending loans balance $ 123,143 $ 148,775 $ 125,775 $ 15,452 $ 9,268 $ 422,413 The following table presents loans individually evaluated for impairment by class of loans as of December 31: (Dollars in thousands) Unpaid Recorded Recorded Total Related Average Interest 2016 Commercial $ 5,476 $ 1,690 $ 3,354 $ 5,044 $ 705 $ 6,609 $ 241 Commercial real estate 796 600 21 621 – 786 10 Residential real estate 1,681 1,036 472 1,508 24 1,507 61 Construction & land development – – – – – – – Total impaired loans $ 7,953 $ 3,326 $ 3,847 $ 7,173 $ 729 $ 8,902 $ 312 2015 Commercial $ 6,541 $ 5,832 $ 301 $ 6,133 $ 299 $ 5,972 $ 230 Commercial real estate 1,265 670 393 1,063 64 1,420 18 Residential real estate 1,689 967 568 1,535 26 1,671 61 Construction & land development – – – – – – – Total impaired loans $ 9,495 $ 7,469 $ 1,262 $ 8,731 $ 389 $ 9,063 $ 309 2014 Commercial $ 7,011 $ 5,889 $ 37 $ 5,926 $ – $ 6,739 $ 208 Commercial real estate 1,836 950 728 1,678 109 2,723 90 Residential real estate 1,721 885 730 1,615 75 1,796 61 Construction & land development – – – – – – – Total impaired loans $ 10,568 $ 7,724 $ 1,495 $ 9,219 $ 184 $ 11,258 $ 359 The following table presents the aging of past due and nonaccrual loans by class of loans as of December 31: (Dollars in thousands) Current 30-59 Days 60-89 Days 90 Days + Nonaccrual Total Past Total 2016 Commercial $ 133,630 $ 151 $ 62 $ – $ 425 $ 638 $ 134,268 Commercial real estate 158,504 435 – 39 497 971 159,475 Residential real estate 142,926 816 61 196 490 1,563 144,489 Construction & land development 23,428 – – – – – 23,428 Consumer 13,234 21 16 – 37 74 13,308 Total loans $ 471,722 $ 1,423 $ 139 $ 235 $ 1,449 $ 3,246 $ 474,968 2015 Commercial $ 122,760 $ 34 $ 172 $ – $ 177 $ 383 $ 123,143 Commercial real estate 147,920 – 59 – 796 855 148,775 Residential real estate 124,408 486 173 105 603 1,367 125,775 Construction & land development 15,452 – – – – – 15,452 Consumer 9,105 163 – – – 163 9,268 Total loans $ 419,645 $ 683 $ 404 $ 105 $ 1,576 $ 2,768 $ 422,413 Troubled Debt Restructurings The Company had troubled debt restructurings (“TDRs”) of $6.4 million as of December 31, 2016, with $711 thousand of specific reserves allocated to customers whose loan terms have been modified in TDRs. As of December 31, 2015, the Company had TDRs of $7.6 million, with $26 thousand of specific reserves allocated. At December 31, 2016, $6 million of the loans classified as TDRs were performing in accordance with their modified terms. The remaining $394 thousand were classified as nonaccrual. Loan modifications that are considered TDRs completed during the year ended December 31 were as follows: (Dollars in thousands) Number Of Pre-Modification Post-Modification 2016 Commercial 4 $ 3,607 $ 3,607 Residential real estate 1 101 101 Total restructured loans 5 $ 3,708 $ 3,708 2015 Commercial 1 $ 148 $ 148 Residential real estate 5 307 307 Total restructured loans 6 $ 455 $ 455 The loans restructured were modified by changing the monthly payment to interest only and extending the maturity dates. No principal reductions were made. None of the loans restructured in 2015 subsequently defaulted in 2016. There was one residential real estate loan of $84 thousand restructured in 2014 that subsequently defaulted in 2015. Real Estate Loans in Foreclosure The Company held no foreclosed real estate as of December 31, 2016, or December 31, 2015. Mortgage loans in the process of foreclosure were $448 thousand at December 31, 2016, and $89 thousand at December 31, 2015. Credit Quality Indicators The Company categorizes loans into risk categories based on relevant information about the ability of borrowers to service their debt such as: current financial information, historical payment experience, credit documentation, public information, and current economic trends, among other factors. The Company analyzes commercial loans individually by classifying the loans as to credit risk. This analysis includes commercial loans with an outstanding balance greater than $300 thousand. This analysis is performed on an annual basis. The Company uses the following definitions for risk ratings: Pass. Special Mention. Substandard. Doubtful. Loans not meeting the criteria above that are analyzed individually as part of the above described process are considered to be pass-rated loans. Loans listed as not rated are either less than $300 thousand or are included in groups of homogeneous loans. Based on the most recent analysis performed, the risk category of loans by class was as follows at December 31: (Dollars in thousands) Pass Special Substandard Doubtful Not Rated Total 2016 Commercial $ 116,739 $ 6,874 $ 9,704 $ – $ 951 $ 134,268 Commercial real estate 149,630 4,168 4,766 – 911 159,475 Residential real estate 216 – 175 – 144,098 144,489 Construction & land development 17,183 981 504 – 4,760 23,428 Consumer – – – – 13,308 13,308 Total $ 283,768 $ 12,023 $ 15,149 $ – $ 164,028 $ 474,968 2015 Commercial $ 112,229 $ 3,100 $ 7,044 $ – $ 770 $ 123,143 Commercial real estate 141,621 2,742 3,150 – 1,262 148,775 Residential real estate 190 – 213 – 125,372 125,775 Construction & land development 11,015 944 – – 3,493 15,452 Consumer – – – – 9,268 9,268 Total $ 265,055 $ 6,786 $ 10,407 $ – $ 140,165 $ 422,413 Nonperforming loans include loans past due 90 days and greater and loans on nonaccrual of interest status. The following table presents loans that are not rated, by class of loans as of December 31: (Dollars in thousands) Performing Nonperforming Total 2016 Commercial $ 951 $ – $ 951 Commercial real estate 911 – 911 Residential real estate 143,440 658 144,098 Construction & land development 4,760 – 4,760 Consumer 13,271 37 13,308 Total $ 163,333 $ 695 $ 164,028 2015 Commercial $ 770 $ – $ 770 Commercial real estate 1,262 – 1,262 Residential real estate 124,700 672 125,372 Construction & land development 3,493 – 3,493 Consumer 9,268 – 9,268 Total $ 139,493 $ 672 $ 140,165 Mortgage Servicing Rights For the years ended December 31, 2016 and 2015, the Company had outstanding MSRs of $261 thousand and $246 thousand, respectively. No valuation allowance was recorded at December 31, 2016 or 2015, as the fair value of the MSRs exceeded their carrying value. On December 31, 2016, the Company had $61.8 million residential mortgage loans with servicing retained as compared to $59.9 million with servicing retained at December 31, 2015. Total loans serviced for others approximated $85.9 million and $76.3 million at December 31, 2016 and 2015, respectively. |
Premises and Equipment
Premises and Equipment | 12 Months Ended |
Dec. 31, 2016 | |
Property, Plant and Equipment [Abstract] | |
Premises and Equipment | NOTE 4 – PREMISES AND EQUIPMENT Premises and equipment consisted of the following at December 31: (Dollars in thousands) 2016 2015 Land and improvements $ 1,607 $ 1,559 Buildings and improvements 10,365 9,702 Furniture and equipment 6,346 8,031 Leasehold improvements 191 260 18,509 19,552 Accumulated depreciation 9,760 11,343 Premises and equipment, net $ 8,749 $ 8,209 The Bank leases certain office locations. Total rental expense under these leases approximated $191 thousand, $301 thousand, and $299 thousand in 2016, 2015, and 2014, respectively. Depreciation expense amounted to $690 thousand, $660 thousand, and $653 thousand for the years ended December 31, 2016, 2015, and 2014, respectively. Future minimum lease payments at December 31, 2016 were as follows: (Dollars in thousands) 2017 $ 152 2018 82 2019 71 Total $ 305 |
Core Deposit Intangible Assets
Core Deposit Intangible Assets | 12 Months Ended |
Dec. 31, 2016 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Core Deposit Intangible Assets | NOTE 5 – CORE DEPOSIT INTANGIBLE ASSETS Core Deposit Intangible No additional core deposit intangible was recorded in 2016, 2015, or 2014. The core deposit intangible asset will be amortized over an estimated life of ten years. Amortization expense related to the core deposit intangible asset totaled $121 thousand, $125 thousand, and $130 thousand in 2016, 2015, and 2014, respectively. The following table shows the core deposit intangible and the related accumulated amortization as of December 31: (Dollars in thousands) 2016 2015 2014 Gross carrying amount $ 1,251 $ 1,251 $ 1,251 Accumulated amortization (868 ) (747 ) (622 ) Net carrying amount $ 383 $ 504 $ 629 The estimated aggregate future amortization expense for the core deposit assets remaining as of December 31, 2016 was as follows: (Dollars in thousands) Core Deposit 2017 $ 116 2018 101 2019 63 2020 59 2021 44 $ 383 |
Interest-Bearing Deposits
Interest-Bearing Deposits | 12 Months Ended |
Dec. 31, 2016 | |
Banking and Thrift [Abstract] | |
Interest-Bearing Deposits | NOTE 6 – INTEREST-BEARING DEPOSITS Interest-bearing deposits at December 31 were as follows: (Dollars in thousands) 2016 2015 Demand $ 97,683 $ 86,472 Savings 163,169 167,755 Time deposits: In excess of $ 250,000 13,102 13,834 Other 99,007 105,432 Total interest-bearing deposits $ 372,961 $ 373,493 At December 31, 2016, stated maturities of time deposits were as follows: (Dollars in thousands) 2017 $ 57,670 2018 27,439 2019 15,400 2020 5,336 2021 6,264 Total $ 112,109 |
Borrowings
Borrowings | 12 Months Ended |
Dec. 31, 2016 | |
Debt Disclosure [Abstract] | |
Borrowings | NOTE 7 – BORROWINGS Short-term borrowings Short-term borrowings include overnight repurchase agreements, federal funds purchased, and short-term advances through the FHLB. The outstanding balances and related information for short-term borrowings are summarized as follows: (Dollars in thousands) 2016 2015 Balance at year-end $ 48,742 $ 48,598 Average balance outstanding 51,801 51,571 Maximum month-end 55,642 54,462 Weighted-average rate at year-end 0.16 % 0.14 % Weighted-average rate during the year 0.14 0.14 Average balances outstanding during the year represent daily average balances; average interest rates represent interest expenses divided by the related average balances. The following table provides additional detail regarding repurchase agreements accounted for as secured borrowings: Remaining Contractual Maturity Overnight and Continuous (Dollars in thousands) December 31, December 31, Securities of U.S. Government agencies and mortgage-backed securities of government agencies pledged, fair value $ 48,866 $ 48,791 Repurchase agreements 48,742 48,598 Other borrowings The following table sets forth information concerning other borrowings: Maturity Range Weighted Stated Interest At December 31, (Dollars in thousands) From To Rate From To 2016 2015 Fixed-rate 12/20/17 12/21/17 3.61% 3.48% 3.73% $ 10,000 $ 10,000 Fixed-rate amortizing 4/1/24 4/1/24 1.36 1.16 6.80 2,385 3,465 $ 12,385 $ 13,465 Maturities of other borrowings at December 31, 2016, are summarized as follows for the years ended December 31: (Dollars in thousands) Amount Weighted 2017 $ 10,730 3.44% 2018 534 1.16 2019 389 1.16 2020 279 1.16 2021 and beyond 453 1.16 $ 12,385 3.14% Monthly principal and interest payments, as well as 10% – 20% principal curtailments on the borrowings’ anniversary dates are due on the fixed-rate amortizing borrowings. FHLB borrowings are secured by a blanket collateral agreement. At December 31, 2016 the Company had the capacity to borrow an additional $65.6 million from the FHLB. |
Income Taxes
Income Taxes | 12 Months Ended |
Dec. 31, 2016 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | NOTE 8 – INCOME TAXES The provision for income taxes consisted of the following for the years ended December 31: (Dollars in thousands) 2016 2015 2014 Current $ 2,973 $ 2,564 $ 2,393 Deferred (4 ) 83 175 Total income tax provision $ 2,969 $ 2,647 $ 2,568 The income tax provision attributable to income from operations differed from the amounts computed by applying the statutory federal income tax rate of 34% to income before income taxes as follows: (Dollars in thousands) 2016 2015 2014 Expected provision using statutory federal income tax rate $ 3,300 $ 2,947 $ 2,874 Tax-exempt (241 ) (216 ) (188 ) Interest expense associated with carrying certain state and municipal securities and political subdivision loans 5 4 4 Tax-exempt (94 ) (92 ) (90 ) Other (1 ) 4 (32 ) Total income tax provision $ 2,969 $ 2,647 $ 2,568 The tax effects of temporary differences that give rise to deferred tax assets and deferred tax liabilities at December 31 were as follows: (Dollars in thousands) 2016 2015 Allowance for loan losses $ 1,957 $ 1,743 Net operating loss carryforward 84 213 Unrealized loss on securities available-for-sale 450 215 Other 29 41 Deferred tax assets 2,520 2,212 Premises and equipment (384 ) (359 ) Federal Home Loan Bank stock dividends (609 ) (609 ) Deferred loan fees (362 ) (326 ) Prepaid expenses (182 ) (193 ) Other (380 ) (361 ) Deferred tax liabilities (1,917 ) (1,848 ) Net deferred tax asset $ 603 $ 364 The Company has a net operating loss tax carryforward of approximately $248 thousand, as of December 31, 2016. The net operating loss carryforward can be used to offset future taxable income and will begin to expire in tax year 2026. No additional valuation allowance is deemed necessary in view of certain tax strategies, coupled with the anticipated future taxable income as evidenced by the Company’s earnings. There is currently no liability for uncertain tax positions and no known unrecognized tax benefits. The Company recognizes, when applicable, interest and penalties related to unrecognized tax benefits in the provision for income taxes in the Consolidated Statements of Income. With few exceptions, the Company is no longer subject to U.S. federal, state, or local income tax examinations by tax authorities for years prior to 2013. |
Employee Benefits
Employee Benefits | 12 Months Ended |
Dec. 31, 2016 | |
Postemployment Benefits [Abstract] | |
Employee Benefits | NOTE 9 – EMPLOYEE BENEFITS The Company sponsors a contributory 401(k) profit-sharing plan (the “Plan”) covering substantially all employees who meet certain age and service requirements. The Plan permits investment in the Company’s common stock subject to various limitations and provides for discretionary profit sharing and matching contributions. The discretionary profit sharing contribution is determined annually by the Board of Directors and amounted to 3.00% in 2016 and 2.75% of each eligible participant’s compensation in 2015 and 2014. The Plan also provides for a 50% Company match of participant contributions up to a maximum of 2% of each participant’s annual compensation. Expense under the Plan amounted to approximately $338 thousand, $304 thousand, and $269 thousand for 2016, 2015, and 2014, respectively. The Company’s stock option plan expired in 2013 and the last options outstanding were exercised in 2016. No stock options were granted nor did any share awards vest during the three years presented. The following table summarizes stock options activity for the years ended December 31: 2016 2015 2014 Shares Weighted Shares Weighted Shares Weighted Outstanding at beginning of year 5,952 $ 18.00 11,904 $ 18.00 30,760 $ 17.90 Granted – – – – – – Exercised (5,952 ) (18.00 ) (5,952 ) (18.00 ) (18,856 ) (17.84 ) Forfeited – – – Outstanding at end of year – – 5,952 18.00 11,904 18.00 Options exercisable at year-end – $ – 5,952 $ 18.00 11,904 $ 18.00 Weighted-average fair value of options granted during year N/A N/A N/A N/A There were no options outstanding at December 31, 2016. The total intrinsic value of outstanding in-the-money in-the-money |
Financial Instruments with Off-
Financial Instruments with Off-Balance Sheet Risk | 12 Months Ended |
Dec. 31, 2016 | |
Commitments and Contingencies Disclosure [Abstract] | |
Financial Instruments with Off-Balance Sheet Risk | NOTE 10 – FINANCIAL INSTRUMENTS WITH OFF-BALANCE The Bank is party to financial instruments with off-balance on-balance The following financial instruments whose contract amount represents credit risk were outstanding at December 31: (Dollars in thousands) 2016 2015 Commitments to extend credit $ 162,763 $ 136,293 Letters of credit 972 1,937 Commitments to extend credit are agreements to lend to a customer as long as there is no violation of any condition established in the contract. Commitments generally have fixed expiration dates or other termination clauses and may require payment of a fee. Since many of the commitments are expected to expire without being drawn upon, the total commitment amount does not necessarily represent future cash requirements. The Company evaluates each customer’s credit worthiness on a case-by-case Letters of credit are written conditional commitments issued by the Company to guarantee the performance of a customer to a third-party and are reviewed for renewal at expiration. The credit risk involved in issuing letters of credit is essentially the same as that involved in extending loans to customers. The Company requires collateral supporting these commitments when deemed appropriate. |
Related-Party Transactions
Related-Party Transactions | 12 Months Ended |
Dec. 31, 2016 | |
Related Party Transactions [Abstract] | |
Related-Party Transactions | NOTE 11 – RELATED-PARTY TRANSACTIONS In the ordinary course of business, loans are made by the Bank to executive officers, directors, and their related business interests consistent with Federal Reserve Regulation O. The following is an analysis of activity of related-party loans for the years ended December 31: (Dollars in thousands) 2016 2015 Balance at beginning of year $ 495 $ 4,417 New loans and advances 84 69 Repayments, including loans sold 117 148 Changes in related parties 1 (141 ) (3,843 ) Balance at end of year $ 321 $ 495 1 Deposits from executive officers, directors, and their related business interests at December 31, 2016 and 2015, were approximately $3.0 million and $2.5 million. |
Regulatory Matters
Regulatory Matters | 12 Months Ended |
Dec. 31, 2016 | |
Banking and Thrift [Abstract] | |
Regulatory Matters | NOTE 12 – REGULATORY MATTERS The Company (on a consolidated basis) and Bank are subject to various regulatory capital requirements administered by the federal and state banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory and possibly additional discretionary actions by regulators that, if undertaken, could have a direct material effect on the Company’s and Bank’s financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Company and Bank must meet specific capital guidelines that involve quantitative measures of the assets, liabilities, and certain off-balance-sheet Quantitative measures established by regulation to ensure capital adequacy require the Company and Bank to maintain minimum amounts and ratios (set forth in the following table) of Total capital, Tier 1 capital and Common equity Tier 1 capital (as defined in the regulations) to risk-weighted assets (as defined), and of Tier 1 capital to average assets (as defined). Management believes, as of December 31, 2016 and 2015, that the Company and Bank met or exceeded all capital adequacy requirements to which they are subject. As of December 31, 2016, the most recent notification from federal and state banking agencies categorized the Bank as “well capitalized” under the regulatory framework for prompt corrective action. To be categorized as “well capitalized” an institution must maintain minimum Total risk-based, Tier 1 risk-based, Common equity Tier 1, and Tier 1 leverage ratios as set forth in the following tables. There are no known conditions or events since that notification that Management believes have changed the Bank’s category. The actual capital amounts and ratios of the Company and Bank as of December 31 are presented in the following tables: Actual Minimum Minimum Required (Dollars in thousands) Amount Ratio Amount Ratio Amount Ratio 2016 Total capital to risk-weighted assets Consolidated $ 66,545 13.7 % $ 38,936 8.0 % $ 48,670 10.0 % Bank 65,420 13.5 38,925 8.0 48,656 10.0 Tier 1 capital to risk-weighted assets Consolidated 61,246 12.6 29,202 6.0 38,936 8.0 Bank 60,121 12.4 29,194 6.0 38,925 8.0 Common equity Tier 1 capital to risk-weighted assets Consolidated 61,246 12.6 21,901 4.5 31,635 6.5 Bank 60,121 12.4 21,895 4.5 31,626 6.5 Tier 1 capital to average assets Consolidated 61,246 9.3 26,330 4.0 32,913 5.0 Bank 60,121 9.1 26,325 4.0 32,906 5.0 2015 Total capital to risk-weighted assets Consolidated $ 61,210 13.5 % $ 36,226 8.0 % $ 45,283 10.0 % Bank 60,151 13.3 36,216 8.0 45,270 10.0 Tier 1 capital to risk-weighted assets Consolidated 56,540 12.5 27,170 6.0 36,226 8.0 Bank 55,481 12.3 27,162 6.0 36,216 8.0 Common equity Tier 1 capital to risk-weighted assets Consolidated 56,540 12.5 20,377 4.5 29,434 6.5 Bank 55,481 12.3 20,371 4.5 29,425 6.5 Tier 1 capital to average assets Consolidated 56,540 8.7 25,871 4.0 32,338 5.0 Bank 55,481 8.6 25,865 4.0 32,332 5.0 The Company’s primary source of funds with which to pay dividends are dividends received from the Bank. The payment of dividends by the Bank to the Company is subject to restrictions by its regulatory agencies. These restrictions generally limit dividends to current year net income and prior two-years’ |
Condensed Parent Company Financ
Condensed Parent Company Financial Information | 12 Months Ended |
Dec. 31, 2016 | |
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | |
Condensed Parent Company Financial Information | NOTE 13 – CONDENSED PARENT COMPANY FINANCIAL INFORMATION A summary of condensed financial information of the parent company as of December 31, 2016 and 2015, and for each of the three years in the period ended December 31, 2016 follows: (Dollars in thousands) 2016 2015 CONDENSED BALANCE SHEETS ASSETS Cash deposited with subsidiary bank $ 921 $ 790 Investment in subsidiary bank 64,272 60,201 Securities available-for-sale 80 64 Other assets 195 218 TOTAL ASSETS $ 65,468 $ 61,273 LIABILITIES AND SHAREHOLDERS’ EQUITY Total liabilities $ 53 $ 7 Total shareholders’ equity 65,415 61,266 TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY $ 65,468 $ 61,273 (Dollars in thousands) 2016 2015 2014 CONDENSED STATEMENTS OF COMPREHENSIVE INCOME Interest on securities $ 2 $ 2 $ 2 Dividends from subsidiary 2,450 2,400 2,400 Securities gains – 35 – Total income 2,452 2,437 2,402 Operating expenses 384 465 312 Income before taxes and undistributed equity income of subsidiary 2,068 1,972 2,090 Income tax benefit (131 ) (146 ) (141 ) Equity earnings in subsidiary, net of dividends 4,539 3,904 3,653 NET INCOME $ 6,738 $ 6,022 $ 5,884 COMPREHENSIVE INCOME $ 6,281 $ 5,887 $ 7,058 (Dollars in thousands) 2016 2015 2014 CONDENSED STATEMENTS OF CASH FLOWS Cash flows from operating activities: Net income $ 6,738 $ 6,022 $ 5,884 Adjustments to reconcile net income to cash provided by operations: Equity earnings in subsidiary, net of dividends (4,539 ) (3,904 ) (3,653 ) Securities gain – (35 ) – Change in other assets, liabilities 71 2 (111 ) Net cash provided by operating activities 2,270 2,085 2,120 Cash flows from investing activities: Proceeds from sale of securities – 88 – Net cash provided by investing activities – 88 – Cash flows from financing activities: Cash dividends paid (2,139 ) (2,082 ) (2,026 ) Cash received from exercise of stock options – – 7 Net cash used in financing activities (2,139 ) (2,082 ) (2,019 ) Increase in cash 131 91 101 Cash at beginning of year 790 699 598 Cash at end of year $ 921 $ 790 $ 699 |
Fair Value Measurements
Fair Value Measurements | 12 Months Ended |
Dec. 31, 2016 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements | NOTE 14 – FAIR VALUE MEASUREMENTS The Company provides disclosures about assets and liabilities carried at fair value. The framework provides a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities and lowest priority to unobservable inputs. The three broad levels of the fair value hierarchy are described below: Level I: Inputs to the valuation methodology are unadjusted quoted prices for identical assets or liabilities in active markets that the Company has the ability to access. Level II: Inputs to the valuation methodology include quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in inactive markets; inputs other than quoted prices that are observable for the asset or liability; inputs that are derived principally from or corroborated by observable market data by or other means including certified appraisals. If the asset or liability has a specified (contractual) term, the Level II input must be observable for substantially the full term of the asset or liability. Level III: Inputs to the valuation methodology are unobservable and significant to the fair value measurement. The following table presents the assets reported on the consolidated statements of financial condition at their fair value as of December 31, 2016 and December 31, 2015, by level within the fair value hierarchy. No liabilities were carried at fair value. As required by the accounting standards, financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. Equity securities and U.S. Treasury Notes are valued at the closing price reported on the active market on which the individual securities are traded. Obligations of U.S. government corporations and agencies, mortgage-backed securities, asset-backed securities, obligations of states, and political subdivisions are valued at observable market data for similar assets. (Dollars in thousands) Level I Level II Level III Total Assets: December 31, 2016 Securities available-for-sale U.S. Treasury security $ 1,001 $ – $ – $ 1,001 U.S. Government agencies – 6,402 – 6,402 Mortgage-backed securities of government agencies – 55,837 – 55,837 Other mortgage-backed securities – 65 – 65 Asset-backed securities of government agencies – 1,266 – 1,266 State and political subdivisions – 29,708 – 29,708 Corporate bonds – 9,516 – 9,516 Total debt securities 1,001 102,794 – 103,795 Equity securities 80 – – 80 Total available-for-sale $ 1,081 $ 102,794 $ – $ 103,875 Assets: December 31, 2015 Securities available-for-sale U.S. Treasury security $ 1,000 $ – $ – $ 1,000 U.S. Government agencies – 18,118 – 18,118 Mortgage-backed securities of government agencies – 63,179 – 63,179 Other mortgage-backed securities – 104 – 104 Asset-backed securities of government agencies – 1,392 – 1,392 State and political subdivisions – 25,301 – 25,301 Corporate bonds – 18,811 – 18,811 Total debt securities 1,000 126,905 – 127,905 Equity securities 64 – – 64 Total available-for-sale $ 1,064 $ 126,905 $ – $ 127,969 The following table presents the assets measured on a nonrecurring basis on the consolidated balance sheets at their fair value as of December 31, 2016 and December 31, 2015, by level within the fair value hierarchy. Impaired loans that are collateral dependent are written down to fair value through the establishment of specific reserves. Techniques used to value the collateral securing the impaired loans include: quoted market prices for identical assets classified as Level I inputs; observable inputs, employed by certified appraisers, for similar assets classified as Level II inputs. In cases where valuation techniques included inputs that are unobservable and are based on estimates and assumptions developed by management based on the best information available under each circumstance, the asset valuation is classified as Level III inputs. (Dollars in thousands) Level I Level II Level III Total Assets measured on a nonrecurring basis December 31, 2016 Impaired loans $ – $ – $ 6,427 $ 6,427 Assets measured on a nonrecurring basis December 31, 2015 Impaired loans $ – $ – $ 8,335 $ 8,335 The following table presents additional quantitative information about assets measured at fair value on a nonrecurring basis and for which the Company has utilized Level III inputs to determine fair value: Quantitative Information about Level III Fair Value Measurements (Dollars in thousands) Fair Value Valuation Unobservable Input Range (Weighted Average) December 31, 2016 Impaired loans $ 5,331 Discounted Remaining term Discount rate 6 mos to 29.9 yrs / (61.1 mos 3.1% to 12.0% / (4.9 ) %) 1,097 Appraisal of 1 Appraisal adjustments 2 2 0% to –50% (–21.7 –10 %) % December 31, 2015 Impaired loans $ 7,256 Discounted Remaining term Discount rate 2 mos to 29.5 yrs / (55 mos 3.1% to 8.3% / (4.3 ) %) 1,079 Appraisal of 1 Appraisal adjustments 2 2 –20% to –30% (–26 –10 %) % 1 2 |
Fair Values of Financial Instru
Fair Values of Financial Instruments | 12 Months Ended |
Dec. 31, 2016 | |
Investments, All Other Investments [Abstract] | |
Fair Values of Financial Instruments | NOTE 15 – FAIR VALUES OF FINANCIAL INSTRUMENTS The estimated fair values of recognized financial instruments as of December 31 were as follows: 2016 (Dollars in thousands) Carrying Level I Level II Level III Total Fair Financial assets Cash and cash equivalents $ 36,838 $ 36,838 $ – $ – $ 36,838 Securities available-for-sale 103,875 1,081 102,794 – 103,875 Securities held-to-maturity 23,883 – 23,444 – 23,444 Restricted stock 4,614 4,614 – – 4,614 Net loans 470,158 – – 471,815 471,815 Bank-owned life insurance 10,361 10,361 – – 10,361 Accrued interest receivable 1,409 1,409 – – 1,409 Mortgage servicing rights 261 – – 261 261 Financial liabilities Deposits $ 540,785 $ 428,676 $ – $ 112,642 $ 541,318 Short-term borrowings 48,742 48,742 – – 48,742 Other borrowings 12,385 – – 12,511 12,511 Accrued interest payable 76 76 – – 76 2015 (Dollars in thousands) Carrying Level I Level II Level III Total Fair Financial assets Cash and cash equivalents $ 38,272 $ 38,272 $ – $ – $ 38,272 Securities available-for-sale 127,969 1,064 126,905 – 127,969 Securities held-to-maturity 33,819 – 34,011 – 34,011 Restricted stock 4,614 4,614 – – 4,614 Loans held for sale 47 47 – – 47 Net loans 418,209 – – 420,181 420,181 Bank-owned life insurance 10,085 10,085 – – 10,085 Accrued interest receivable 1,513 1,513 – – 1,513 Mortgage servicing rights 246 – – 246 246 Financial liabilities Deposits $ 525,042 $ 405,776 $ – $ 119,867 $ 525,643 Short-term borrowings 48,598 48,598 – – 48,598 Other borrowings 13,465 – – 13,667 13,667 Accrued interest payable 80 80 – – 80 For purposes of the above disclosures of estimated fair value, the following assumptions are used: Cash and cash equivalents; Loans held for sale; Accrued interest receivable; Mortgage servicing rights; Short-term borrowings, and Accrued interest payable The fair value of the above instruments is considered to be carrying value. Securities The fair value of securities available-for-sale held-to-maturity, Net loans The fair value for loans is estimated by discounting future cash flows using current market inputs at which loans with similar terms and qualities would be made to borrowers of similar credit quality. Where quoted market prices were available, primarily for certain residential mortgage loans, such market rates were utilized as estimates for fair value. Fair value of nonaccrual loans is based on carrying value, classified as Level III. Bank-owned life insurance The carrying amount of bank-owned life insurance is based on the cash surrender value of the policies and is a reasonable estimate of fair value, classified as Level I. Restricted stock Restricted stock includes FHLB Stock and Federal Reserve Bank Stock. It is not practicable to determine the fair value of regulatory equity securities due to restrictions placed on their transferability. Fair value is based on carrying value, classified as Level I. Deposits The fair value of certificates of deposit is based on the discounted value of contractual cash flows. The discount rates are estimated using market rates currently offered for similar instruments with similar remaining maturities, resulting in a Level III classification. Demand, savings, and money market deposit accounts are valued at the amount payable on demand as of quarter end, resulting in a Level I classification. Other borrowings The fair value of FHLB advances are estimated using a discounted cash flow analysis based on the current borrowing rates for similar types of borrowings, resulting in a Level III classification. The Company also had unrecognized financial instruments at December 31, 2016 and 2015. These financial instruments relate to commitments to extend credit and letters of credit. The aggregate contract amount of such financial instruments was approximately $163.7 million at December 31, 2016, and $138.2 million at December 31, 2015. Such amounts are also considered to be the estimated fair values. The fair value estimates of financial instruments are made at a specific point in time based on relevant market information. These estimates do not reflect any premium or discount that could result from offering for sale at one time the entire holdings of a particular financial instrument over the value of anticipated future business and the value of assets and liabilities that are not considered financial instruments. Since no ready market exists for a significant portion of the financial instruments, fair value estimates are largely based on judgments after considering such factors as future expected credit losses, current economic conditions, risk characteristics of various financial instruments, and other factors. These estimates are subjective in nature, involve uncertainties, and matters of significant judgment and therefore, cannot be determined with precision. Changes in assumptions could significantly affect these estimates. |
Accumulated Other Comprehensive
Accumulated Other Comprehensive Income | 12 Months Ended |
Dec. 31, 2016 | |
Equity [Abstract] | |
Accumulated Other Comprehensive Income | NOTE 16 – ACCUMULATED OTHER COMPREHENSIVE INCOME The following table presents the changes in accumulated other comprehensive (loss) income by component net of tax for the years ended December 31, 2016 and 2015. (Dollars in thousands) Pretax Tax Effect After-Tax Affected Line Balance as of December 31, 2015 $ (631 ) $ 214 $ (417 ) Unrealized holding loss on available-for-sale (1,221 ) 415 (806 ) Amount reclassified for net gains included in net income (1 ) – (1 ) (a) Amortization of held-to-maturity 530 (180 ) 350 Total other comprehensive loss (692 ) 235 (457 ) BALANCE AS OF DECEMBER 31, 2016 $ (1,323 ) $ 449 $ (874 ) Balance as of December 31, 2014 $ (427 ) $ 145 $ (282 ) Unrealized holding loss on available-for-sale (551 ) 187 (364 ) Amount reclassified for net gains included in net income (56 ) 19 (37 ) (a) (b) Amortization of held-to-maturity 403 (137 ) 266 Total other comprehensive loss (204 ) 69 (135 ) BALANCE AS OF DECEMBER 31, 2015 $ (631 ) $ 214 $ (417 ) (a) Securities gain. (b) Federal income tax provision. |
Contingent Liabilities
Contingent Liabilities | 12 Months Ended |
Dec. 31, 2016 | |
Commitments and Contingencies Disclosure [Abstract] | |
Contingent Liabilities | NOTE 17 – CONTINGENT LIABILITIES In the normal course of business, the Company is subject to pending and threatened legal actions. Although, the Company is not able to predict the outcome of such actions, after reviewing pending and threatened actions, management believes that the outcome of any or all such actions will not have a material adverse effect on the results of operations or shareholders’ equity of the Company. The Company has an employment agreement with an officer. Upon the occurrence of certain types of termination of employment, the Company may be required to make specified severance payments if termination occurs within a specified period of time, generally two years from the date of the agreement, or pursuant to certain change in control transactions. |
Quarterly Financial Data (Unaud
Quarterly Financial Data (Unaudited) | 12 Months Ended |
Dec. 31, 2016 | |
Quarterly Financial Information Disclosure [Abstract] | |
Quarterly Financial Data (Unaudited) | NOTE 18 – QUARTERLY FINANCIAL DATA (UNAUDITED) The following is a summary of selected quarterly financial data (unaudited) for the years ended December 31: (Dollars in thousands, except per share data) Interest Income Net Interest Income Net Income Basic Earnings Per Share Diluted Earnings Per Share 2016 First quarter $ 5,661 $ 5,285 $ 1,480 $ 0.54 $ 0.54 Second quarter 5,813 5,446 1,611 0.59 0.59 Third quarter 5,863 5,497 1,694 0.61 0.61 Fourth quarter 6,295 5,931 1,953 0.72 0.72 2015 First quarter $ 5,407 $ 5,014 $ 1,342 $ 0.49 $ 0.49 Second quarter 5,568 5,175 1,517 0.55 0.55 Third quarter 5,463 5,068 1,556 0.57 0.57 Fourth quarter 5,559 5,173 1,607 0.59 0.59 2014 First quarter $ 5,336 $ 4,898 $ 1,416 $ 0.52 $ 0.52 Second quarter 5,484 5,045 1,522 0.55 0.55 Third quarter 5,435 4,997 1,507 0.55 0.55 Fourth quarter 5,401 4,987 1,439 0.53 0.53 |
Summary of Significant Accoun27
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2016 | |
Accounting Policies [Abstract] | |
Use of Estimates in Preparing Financial Statements | USE OF ESTIMATES IN PREPARING FINANCIAL STATEMENTS In preparing the Consolidated Financial Statements, in conformity with U.S. generally accepted accounting principles, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the Consolidated Balance Sheets and reported amounts of revenues and expenses during each reporting period. Actual results could differ from those estimates. The most significant estimates susceptible to change in the near term relate to management’s determination of the allowance for loan losses and the fair value of financial instruments. |
Principles of Consolidation | PRINCIPLES OF CONSOLIDATION The Consolidated Financial Statements include the accounts of the Company and its wholly-owned subsidiaries. All significant inter-company balances and transactions have been eliminated in consolidation. The Bank has a trust department and the assets held by the Bank in fiduciary or agency capacities for its customers are not included in the Consolidated Balance Sheets as such items are not assets of the Bank. |
Cash and Cash Equivalents | CASH AND CASH EQUIVALENTS For purposes of the Consolidated Statements of Cash Flows, cash, and cash equivalents include cash on hand and amounts due from banks which mature overnight or within ninety days. |
Cash Reserve Requirements | CASH RESERVE REQUIREMENTS The Bank generally is required by the Federal Reserve to maintain reserves consisting of cash on hand and noninterest-earning balances on deposit with the Federal Reserve Bank. There was no required reserve balance at December 31, 2016 and 2015. |
Securities | SECURITIES At the time of purchase all securities are evaluated and designated as available-for-sale held-to-maturity. available-for-sale held-to-maturity. available-for Held-to-maturity held-to-maturity. The amortized cost of debt securities is adjusted for amortization of premiums and accretion of discounts to maturity based on the interest method. Such amortization and accretion is included in interest and dividends on securities. Gains and losses on sales of securities are accounted for on a trade date basis, using the specific identification method, and are included in noninterest income. Securities are periodically reviewed for other-than-temporary impairment based upon a number of factors, including, but not limited to: the length of time and extent to which the market value has been less than cost, the financial condition of the underlying issuer, the receipt of principal and interest according to the contractual terms, the ability of the issuer to meet contractual obligations, the likelihood of the security’s ability to recover any decline in its market value and management’s intent, and ability to hold the security for a period of time sufficient to allow for a recovery in market value. Among the factors that are considered in determining management’s intent and ability to hold the security is a review of the Company’s capital adequacy, interest rate risk position, and liquidity. The assessment of a security’s ability to recover any decline in market value, the ability of the issuer to meet contractual obligations, and management’s intent and ability to hold the security requires considerable judgment. A decline in value that is considered to be other-than-temporary is recorded as a loss within noninterest income in the Consolidated Statements of Income. Investments in FHLB and Federal Reserve Bank stock are classified as restricted stock, carried at cost, and evaluated for impairment. The Bank is required to maintain an investment in common stock of the FHLB and Federal Reserve Bank because the Bank is a member of the FHLB and the Federal Reserve System. We consider these stocks to be nonmarketable equity securities. Federal Home Loan Bank of Cincinnati reported profits for 2016 and 2015, remains in compliance with regulatory capital and liquidity requirements, continues to pay dividends on the stock and redeems its stock at par value. With consideration given to these factors, management concluded that the stock was not impaired at December 31, 2016 or 2015. |
Loans | LOANS Loans that management has the intent and ability to hold for the foreseeable future, until maturity, or pay-off, Interest income is not reported when full repayment is in doubt, typically when the loan is impaired or payments are past due over 90 days. All interest accrued but not collected for loans that are placed on nonaccrual or charged-off At origination, a determination is made whether a loan will be held in the Bank’s portfolio or is intended for sale in the secondary market. Mortgage loans held for sale are recorded at the lower of the aggregate cost or fair value. Generally these loans are held for sale for less than three days. The Bank recognizes gains and losses on sales of the loans held for sale when the sale is completed. |
Allowance for Loan Losses | ALLOWANCE FOR LOAN LOSSES The allowance for loan losses is established as losses are estimated to have occurred through a provision for loan losses charged to income. Loan losses are charged against the allowance when management believes the uncollectibility of a loan balance is confirmed. Subsequent recoveries, if any, are credited to the allowance. The allowance for loan losses is evaluated on a regular basis by management and is based upon management’s periodic review of the collectability of the loans in light of historical experience, the nature and volume of the loan portfolio, adverse situations that may affect borrowers’ ability to repay, estimated value of any underlying collateral, and prevailing economic conditions. This evaluation is inherently subjective as it requires estimates that are susceptible to significant revision as more information becomes available. A loan is considered impaired when, based on current information and events, it is probable that the Company will be unable to collect the scheduled payments of principal or interest when due according to the contractual terms of the loan agreement. Factors considered by management in determining impairment include payment status, collateral value, and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not classified as impaired. Management determines the significance of payment delays and payment shortfalls on a case-by-case loan-by-loan Large groups of smaller balance homogeneous loans are collectively evaluated for impairment. Accordingly, the Company does not separately identify individual residential real estate or consumer loans for impairment disclosures. |
Other Real Estate Owned | OTHER REAL ESTATE OWNED Other real estate acquired through or in lieu of foreclosure is initially recorded at fair value, less estimated costs to sell, and any loan balance in excess of fair value is charged to the allowance for loan losses. Subsequent valuations are periodically performed and write-downs are included in noninterest expenses, as well as expenses related to maintenance of the properties. Gains or losses upon sale are recorded through noninterest income. There was no other real estate owned at December 31, 2016 and 2015. |
Premises and Equipment | PREMISES AND EQUIPMENT Premises and equipment are stated at cost, less accumulated depreciation, and amortization. Upon the sale or disposition of the assets, the difference between the depreciated cost and proceeds is charged or credited to income. Depreciation and amortization is determined based on the estimated useful lives of the individual assets (typically 20 to 40 years for buildings and 3 to 10 years for equipment) and is computed using the straight-line method. Leasehold improvements are amortized over the useful life of the asset, or lease term, whichever is shorter. |
Goodwill and Core Deposit in Intangible Assets | GOODWILL AND CORE DEPOSIT INTANGIBLE ASSETS Goodwill is not amortized, but is tested at least annually for impairment in the fourth quarter or more frequently if indicators of impairment are present. The evaluation for impairment involves comparing the estimated current fair value of the reporting unit to its carrying value, including goodwill. If the estimated current fair value of a reporting unit exceeds its carrying value, no additional testing is required and an impairment loss is not recorded. The Company uses market capitalization and multiples of tangible book value methods to determine the estimated current fair value of its reporting unit. Based on this analysis no impairment was recorded in 2016 or 2015. The core deposit intangible assets are assigned useful lives, which are amortized on an accelerated basis over their weighted average lives. The Company periodically reviews the intangible asset for impairment as events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable. |
Mortgage Servicing Rights | MORTGAGE SERVICING RIGHTS Mortgage servicing rights (“MSRs”) represent the right to service loans for third-party investors. MSRs are recognized as a separate asset upon the sale of mortgage loans to a third-party investor with the servicing rights retained by the Company. Originated MSRs are recorded at allocated fair value at the time of the sale of the loans to the third-party investor. MSRs are amortized in proportion to and over the estimated period of net servicing income. MSRs are carried at amortized cost, less a valuation allowance for impairment, if any. MSRs are evaluated on a discounted earnings basis to determine the present value of future earnings of the underlying serviced mortgages. All assumptions are reviewed annually, or more frequently if necessary, adjusted to reflect current, and anticipated market conditions. |
Bank-owned Life Insurance | BANK-OWNED LIFE INSURANCE The cash surrender value of these policies is included as an asset on the Consolidated Balance Sheets and any increases in the cash surrender value are recorded as noninterest income on the Consolidated Statements of Income. In the event of the death of an insured individual under these policies, the Company would receive a death benefit, which would be recorded as noninterest income. |
Repurchase Agreements | REPURCHASE AGREEMENTS Substantially all securities sold under repurchase agreements represent amounts advanced by various customers. Securities owned by the Bank are pledged to secure those obligations. Repurchase agreements are not deposits and are not covered by federal deposit insurance. |
Advertising Costs | ADVERTISING COSTS All advertising costs are expensed as incurred. Advertising expenses amounted to $215 thousand, $229 thousand, and $182 thousand for the years ended 2016, 2015, and 2014, respectively. |
Federal Income Taxes | FEDERAL INCOME TAXES The Company and its subsidiaries file a consolidated tax return. Deferred income taxes are provided on temporary differences between financial statement and income tax reporting. Temporary differences are differences between the amounts of assets, liabilities reported for financial statement purposes, and their tax bases. Deferred tax assets are recognized for temporary differences that will be deductible in future years’ tax returns and for operating loss and tax credit carry forwards. Deferred tax assets are reduced by a valuation allowance if it is deemed more likely than not that some or all of the deferred tax assets will not be realized. Deferred tax liabilities are recognized for temporary differences that will be taxable in future years’ tax returns. The Bank, domiciled in Ohio, is not currently subject to state and local income taxes. |
Stock-based Compensation | STOCK-BASED COMPENSATION The Company previously sponsored a stock-based compensation plan that expired in 2013. All outstanding awards at December 31, 2015 were exercised during the first quarter of 2016. There were no stock options outstanding at December 31, 2016. The Company recorded no stock-based compensation expense for 2016, 2015, or 2014. |
Comprehensive Income | COMPREHENSIVE INCOME The Company includes recognized revenue, expenses, gains, and losses in net income. Although certain changes in assets and liabilities, such as unrealized gains and losses on available-for-sale |
Transfers of Financial Assets | TRANSFERS OF FINANCIAL ASSETS Transfers of financial assets are accounted for as sales when control over the assets has been surrendered. Control over transferred assets is deemed to be surrendered when (1) the assets have been isolated from the Company, (2) the transferee obtains the right (free of conditions that constrain it from taking advantage of that right) to pledge or exchange the transferred assets, and (3) the Company does not maintain effective control over the transferred assets through an agreement to repurchase them before their maturity. |
Per Share Data | PER SHARE DATA Basic net income per share is computed based on the weighted average number of shares of common stock outstanding during each year. Diluted income per common share includes the dilutive effect of additional potential common shares issuable under stock options. The weighted average number of common shares outstanding for basic and diluted earnings per share computations was as follows: 2016 2015 2014 Weighted average common shares 2,980,602 2,980,602 2,980,602 Average treasury shares (238,574 ) (241,132 ) (242,966 ) Total weighted average common shares outstanding (basic) 2,742,028 2,739,470 2,737,636 Dilutive effect of assumed exercise of stock options – 2,638 1,442 Weighted average common shares outstanding (diluted) 2,742,028 2,742,108 2,739,078 Dividends per share are based on the number of shares outstanding at the declaration date. There were no stock options outstanding at December 31, 2016 with 5,952 stock options outstanding at December 31, 2015. |
Recently Issued Accounting Pronouncements | RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS ASU 2014-09 2014-09 one-year year-end, ASU 2016-01 ASU 2016-02 right-of-use ASU 2016-13 ASU 2016-15 ASU 2016-19 ASU 2017-03 |
Reclassification of Comparative Amounts | RECLASSIFICATION OF COMPARATIVE AMOUNTS Certain comparative amounts from the prior years have been reclassified to conform to current year classifications. Such classifications had no effect on net income or shareholders’ equity. |
Summary of Significant Accoun28
Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Accounting Policies [Abstract] | |
Computation of Weighted Average Number of Common Shares Outstanding for Basic and Diluted Earnings Per Share | The weighted average number of common shares outstanding for basic and diluted earnings per share computations was as follows: 2016 2015 2014 Weighted average common shares 2,980,602 2,980,602 2,980,602 Average treasury shares (238,574 ) (241,132 ) (242,966 ) Total weighted average common shares outstanding (basic) 2,742,028 2,739,470 2,737,636 Dilutive effect of assumed exercise of stock options – 2,638 1,442 Weighted average common shares outstanding (diluted) 2,742,028 2,742,108 2,739,078 |
Securities (Tables)
Securities (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Investments, Debt and Equity Securities [Abstract] | |
Summary of Securities Available-for-Sale and Restricted Stock | Securities consisted of the following at December 31: (Dollars in thousands) Amortized Gross Gross Fair 2016 Available-for-sale U.S. Treasury security $ 1,001 $ – $ – $ 1,001 U.S. Government agencies 6,500 – 98 6,402 Mortgage-backed securities of government agencies 56,187 239 589 55,837 Other mortgage-backed securities 65 – – 65 Asset-backed securities of government agencies 1,312 – 46 1,266 State and political subdivisions 30,007 140 439 29,708 Corporate bonds 9,632 28 144 9,516 Equity securities 53 27 – 80 Total available-for-sale 104,757 434 1,316 103,875 Held-to-maturity U.S. Government agencies 9,472 17 396 9,093 Mortgage-backed securities of government agencies 14,411 141 201 14,351 Total held-to-maturity 23,883 158 597 23,444 Restricted stock 4,614 – – 4,614 Total securities $ 133,254 $ 592 $ 1,913 $ 131,933 2015 Available-for-sale U.S. Treasury security $ 1,002 $ – $ 2 $ 1,000 U.S. Government agencies 18,239 5 126 18,118 Mortgage-backed securities of government agencies 62,930 527 278 63,179 Other mortgage-backed securities 104 – – 104 Asset-backed securities of government agencies 1,464 – 72 1,392 State and political subdivisions 24,924 418 41 25,301 Corporate bonds 18,912 7 108 18,811 Equity securities 53 11 – 64 Total available-for-sale 127,628 968 627 127,969 Held-to-maturity U.S. Government agencies 15,586 312 46 15,852 Mortgage-backed securities of government agencies 18,233 81 155 18,159 Total held-to-maturity 33,819 393 201 34,011 Restricted stock 4,614 – – 4,614 Total securities $ 166,061 $ 1,361 $ 828 $ 166,594 |
Summary of Amortized Cost and Fair Value of Debt Securities | The amortized cost and fair value of debt securities at December 31, 2016, by contractual maturity, are shown below. Actual maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. (Dollars in thousands) Amortized Fair Available-for-sale Due in one year or less $ 4,313 $ 4,315 Due after one through five years 22,039 22,037 Due after five through ten years 23,715 23,452 Due after ten years 54,637 53,991 Total debt securities available-for-sale $ 104,704 $ 103,795 Held-to-maturity Due in one year or less $ – $ – Due after one through five years – – Due after five through ten years 3,474 3,334 Due after ten years 20,409 20,110 Total debt securities held-to-maturity $ 23,883 $ 23,444 |
Summary of Proceeds and Gains and Losses from Sales of Available-for-Sale Securities | The following table shows the proceeds from sales of available-for-sale (Dollars in thousands) 2016 2015 2014 Proceeds $ 1 $ 1,576 $ 2,483 Realized gains $ 1 $ 56 $ 133 Realized losses – – – Net securities gains $ 1 $ 56 $ 133 |
Summary of Gross Unrealized Losses and Fair Value of Available for Sale Securities | The following table presents gross unrealized losses, fair value of securities, aggregated by investment category, and length of time that individual securities have been in a continuous unrealized loss position, at December 31: Securities in a Continuous Unrealized Loss Position Less Than 12 Months 12 Months Or More Total (Dollars in thousands) Gross Fair Gross Fair Gross Fair 2016 Available-for-sale U.S. Government agencies $ 98 $ 6,402 $ – $ – $ 98 $ 6,402 Mortgage-backed securities of government agencies 589 27,243 – – 589 27,243 Asset-backed securities of government agencies – – 46 1,266 46 1,266 State and political subdivisions 439 19,328 – – 439 19,328 Corporate bonds 33 3,593 111 1,889 144 5,482 Held-to-maturity U.S. Government agencies 396 8,602 – – 396 8,602 Mortgage-backed securities of government agencies 28 2,018 173 3,621 201 5,639 Total temporarily impaired securities $ 1,583 $ 67,186 $ 330 $ 6,776 $ 1,913 $ 73,962 2015 Available-for-sale U.S. Treasury security $ 2 $ 1,000 $ – $ – $ 2 $ 1,000 U.S. Government agencies 67 9,172 59 4,941 126 14,113 Mortgage-backed securities of government agencies 278 20,231 – – 278 20,231 Asset-backed securities of government agencies 72 1,392 – – 72 1,392 State and political subdivisions 33 2,652 8 1,120 41 3,772 Corporate bonds 108 15,282 – – 108 15,282 Held-to-maturity U.S. Government agencies 46 5,954 – – 46 5,954 Mortgage-backed securities of government agencies 155 12,994 – – 155 12,994 Total temporarily impaired securities $ 761 $ 68,677 $ 67 $ 6,061 $ 828 $ 74,738 |
Loans (Tables)
Loans (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Receivables [Abstract] | |
Summary of Loans | Loans consisted of the following at December 31: (Dollars in thousands) 2016 2015 Commercial $ 134,268 $ 123,143 Commercial real estate 159,475 148,775 Residential real estate 144,489 125,775 Construction & land development 23,428 15,452 Consumer 13,308 9,268 Total loans before deferred costs 474,968 422,413 Deferred loan costs 481 458 Total loans $ 475,449 $ 422,871 |
Summary of Allowance for Loan Losses | Summary of Allowance for Loan Losses (Dollars in thousands) Commercial Commercial Residential Construction & Land Consumer Unallocated Total December 31, 2016 Beginning balance $ 1,664 $ 1,271 $ 1,086 $ 123 $ 86 $ 432 $ 4,662 Provision for loan losses 626 (291 ) 110 55 113 (120 ) 493 Charge-offs (297 ) (50 ) (12 ) – (59 ) (418 ) Recoveries 214 334 5 – 1 554 Net charge-offs (83 ) 284 (7 ) – (58 ) 136 Ending balance $ 2,207 $ 1,264 $ 1,189 $ 178 $ 141 $ 312 $ 5,291 December 31, 2015 Beginning balance $ 1,289 $ 1,524 $ 1,039 $ 142 $ 60 $ 327 $ 4,381 Provision for loan losses 285 (205 ) 161 (19 ) 62 105 389 Charge-offs (109 ) (61 ) (132 ) – (46 ) (348 ) Recoveries 199 13 18 – 10 240 Net charge-offs 90 (48 ) (114 ) – (36 ) (108 ) Ending balance $ 1,664 $ 1,271 $ 1,086 $ 123 $ 86 $ 432 $ 4,662 December 31, 2014 Beginning balance $ 1,219 $ 1,872 $ 1,205 $ 178 $ 91 $ 520 $ 5,085 Provision for loan losses 1,047 23 (164 ) (36 ) (34 ) (193 ) 643 Charge-offs (1,005 ) (379 ) (27 ) – (11 ) (1,422 ) Recoveries 28 8 25 – 14 75 Net charge-offs (977 ) (371 ) (2 ) – 3 (1,347 ) Ending balance $ 1,289 $ 1,524 $ 1,039 $ 142 $ 60 $ 327 $ 4,381 |
Allowances for Loan Losses and Ending Balances by Portfolio Segment and Impairment Method | The following table presents the balance in the allowance for loan losses and the ending loan balances by portfolio segment and impairment method as of December 31: (Dollars in thousands) Commercial Commercial Residential Construction Consumer Unallocated Total 2016 Allowance for loan losses: Ending allowance balances attributable to loans: Individually evaluated for impairment $ 705 $ – $ 24 $ – $ – $ – $ 729 Collectively evaluated for impairment 1,502 1,264 1,165 178 141 312 4,562 Total ending allowance balance $ 2,207 $ 1,264 $ 1,189 $ 178 $ 141 $ 312 $ 5,291 Loans: Loans individually evaluated for impairment $ 5,028 $ 621 $ 1,507 $ – $ – $ 7,156 Loans collectively evaluated for impairment 129,240 158,854 142,982 23,428 13,308 467,812 Total ending loans balance $ 134,268 $ 159,475 $ 144,489 $ 23,428 $ 13,308 $ 474,968 2015 Allowance for loan losses: Ending allowance balances attributable to loans: Individually evaluated for impairment $ 299 $ 64 $ 26 $ – $ – $ – $ 389 Collectively evaluated for impairment 1,365 1,207 1,060 123 86 432 4,273 Total ending allowance balance $ 1,664 $ 1,271 $ 1,086 $ 123 $ 86 $ 432 $ 4,662 Loans: Loans individually evaluated for impairment $ 6,127 $ 1,064 $ 1,533 $ – $ – $ 8,724 Loans collectively evaluated for impairment 117,016 147,711 124,242 15,452 9,268 413,689 Total ending loans balance $ 123,143 $ 148,775 $ 125,775 $ 15,452 $ 9,268 $ 422,413 |
Schedule of Impairment by Class of Loans | The following table presents loans individually evaluated for impairment by class of loans as of December 31: (Dollars in thousands) Unpaid Recorded Recorded Total Related Average Interest 2016 Commercial $ 5,476 $ 1,690 $ 3,354 $ 5,044 $ 705 $ 6,609 $ 241 Commercial real estate 796 600 21 621 – 786 10 Residential real estate 1,681 1,036 472 1,508 24 1,507 61 Construction & land development – – – – – – – Total impaired loans $ 7,953 $ 3,326 $ 3,847 $ 7,173 $ 729 $ 8,902 $ 312 2015 Commercial $ 6,541 $ 5,832 $ 301 $ 6,133 $ 299 $ 5,972 $ 230 Commercial real estate 1,265 670 393 1,063 64 1,420 18 Residential real estate 1,689 967 568 1,535 26 1,671 61 Construction & land development – – – – – – – Total impaired loans $ 9,495 $ 7,469 $ 1,262 $ 8,731 $ 389 $ 9,063 $ 309 2014 Commercial $ 7,011 $ 5,889 $ 37 $ 5,926 $ – $ 6,739 $ 208 Commercial real estate 1,836 950 728 1,678 109 2,723 90 Residential real estate 1,721 885 730 1,615 75 1,796 61 Construction & land development – – – – – – – Total impaired loans $ 10,568 $ 7,724 $ 1,495 $ 9,219 $ 184 $ 11,258 $ 359 |
Schedule of Aging of Past Due and Nonaccrual Loans | The following table presents the aging of past due and nonaccrual loans by class of loans as of December 31: (Dollars in thousands) Current 30-59 Days 60-89 Days 90 Days + Nonaccrual Total Past Total 2016 Commercial $ 133,630 $ 151 $ 62 $ – $ 425 $ 638 $ 134,268 Commercial real estate 158,504 435 – 39 497 971 159,475 Residential real estate 142,926 816 61 196 490 1,563 144,489 Construction & land development 23,428 – – – – – 23,428 Consumer 13,234 21 16 – 37 74 13,308 Total loans $ 471,722 $ 1,423 $ 139 $ 235 $ 1,449 $ 3,246 $ 474,968 2015 Commercial $ 122,760 $ 34 $ 172 $ – $ 177 $ 383 $ 123,143 Commercial real estate 147,920 – 59 – 796 855 148,775 Residential real estate 124,408 486 173 105 603 1,367 125,775 Construction & land development 15,452 – – – – – 15,452 Consumer 9,105 163 – – – 163 9,268 Total loans $ 419,645 $ 683 $ 404 $ 105 $ 1,576 $ 2,768 $ 422,413 |
Summary of Troubled Debt Restructurings | Loan modifications that are considered TDRs completed during the year ended December 31 were as follows: (Dollars in thousands) Number Of Pre-Modification Post-Modification 2016 Commercial 4 $ 3,607 $ 3,607 Residential real estate 1 101 101 Total restructured loans 5 $ 3,708 $ 3,708 2015 Commercial 1 $ 148 $ 148 Residential real estate 5 307 307 Total restructured loans 6 $ 455 $ 455 |
Summary of Loans by Credit Quality Indicator | Based on the most recent analysis performed, the risk category of loans by class was as follows at December 31: (Dollars in thousands) Pass Special Substandard Doubtful Not Rated Total 2016 Commercial $ 116,739 $ 6,874 $ 9,704 $ – $ 951 $ 134,268 Commercial real estate 149,630 4,168 4,766 – 911 159,475 Residential real estate 216 – 175 – 144,098 144,489 Construction & land development 17,183 981 504 – 4,760 23,428 Consumer – – – – 13,308 13,308 Total $ 283,768 $ 12,023 $ 15,149 $ – $ 164,028 $ 474,968 2015 Commercial $ 112,229 $ 3,100 $ 7,044 $ – $ 770 $ 123,143 Commercial real estate 141,621 2,742 3,150 – 1,262 148,775 Residential real estate 190 – 213 – 125,372 125,775 Construction & land development 11,015 944 – – 3,493 15,452 Consumer – – – – 9,268 9,268 Total $ 265,055 $ 6,786 $ 10,407 $ – $ 140,165 $ 422,413 |
Schedule of Loans Not Rated by Class of Loans | The following table presents loans that are not rated, by class of loans as of December 31: (Dollars in thousands) Performing Nonperforming Total 2016 Commercial $ 951 $ – $ 951 Commercial real estate 911 – 911 Residential real estate 143,440 658 144,098 Construction & land development 4,760 – 4,760 Consumer 13,271 37 13,308 Total $ 163,333 $ 695 $ 164,028 2015 Commercial $ 770 $ – $ 770 Commercial real estate 1,262 – 1,262 Residential real estate 124,700 672 125,372 Construction & land development 3,493 – 3,493 Consumer 9,268 – 9,268 Total $ 139,493 $ 672 $ 140,165 |
Premises and Equipment (Tables)
Premises and Equipment (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Property, Plant and Equipment [Abstract] | |
Components of Premises and Equipment | Premises and equipment consisted of the following at December 31: (Dollars in thousands) 2016 2015 Land and improvements $ 1,607 $ 1,559 Buildings and improvements 10,365 9,702 Furniture and equipment 6,346 8,031 Leasehold improvements 191 260 18,509 19,552 Accumulated depreciation 9,760 11,343 Premises and equipment, net $ 8,749 $ 8,209 |
Summary of Future Minimum Lease Payments | Future minimum lease payments at December 31, 2016 were as follows: (Dollars in thousands) 2017 $ 152 2018 82 2019 71 Total $ 305 |
Core Deposit Intangible Assets
Core Deposit Intangible Assets (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Core Deposit Intangible and Related Accumulated Amortization | The following table shows the core deposit intangible and the related accumulated amortization as of December 31: (Dollars in thousands) 2016 2015 2014 Gross carrying amount $ 1,251 $ 1,251 $ 1,251 Accumulated amortization (868 ) (747 ) (622 ) Net carrying amount $ 383 $ 504 $ 629 |
Future Amortization Expense for Core Deposit Asset | The estimated aggregate future amortization expense for the core deposit assets remaining as of December 31, 2016 was as follows: (Dollars in thousands) Core Deposit 2017 $ 116 2018 101 2019 63 2020 59 2021 44 $ 383 |
Interest-Bearing Deposits (Tabl
Interest-Bearing Deposits (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Banking and Thrift [Abstract] | |
Summary of Interest - Bearing Deposits | Interest-bearing deposits at December 31 were as follows: (Dollars in thousands) 2016 2015 Demand $ 97,683 $ 86,472 Savings 163,169 167,755 Time deposits: In excess of $ 250,000 13,102 13,834 Other 99,007 105,432 Total interest-bearing deposits $ 372,961 $ 373,493 |
Stated Maturities of Time Deposits | At December 31, 2016, stated maturities of time deposits were as follows: (Dollars in thousands) 2017 $ 57,670 2018 27,439 2019 15,400 2020 5,336 2021 6,264 Total $ 112,109 |
Borrowings (Tables)
Borrowings (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Debt Disclosure [Abstract] | |
Short-Term Borrowings | The outstanding balances and related information for short-term borrowings are summarized as follows: (Dollars in thousands) 2016 2015 Balance at year-end $ 48,742 $ 48,598 Average balance outstanding 51,801 51,571 Maximum month-end 55,642 54,462 Weighted-average rate at year-end 0.16 % 0.14 % Weighted-average rate during the year 0.14 0.14 |
Summary of Repurchase Agreements Accounted for as Secured Borrowings | The following table provides additional detail regarding repurchase agreements accounted for as secured borrowings: Remaining Contractual Maturity Overnight and Continuous (Dollars in thousands) December 31, December 31, Securities of U.S. Government agencies and mortgage-backed securities of government agencies pledged, fair value $ 48,866 $ 48,791 Repurchase agreements 48,742 48,598 |
Concerning of Other Borrowings | The following table sets forth information concerning other borrowings: Maturity Range Weighted Stated Interest At December 31, (Dollars in thousands) From To Rate From To 2016 2015 Fixed-rate 12/20/17 12/21/17 3.61% 3.48% 3.73% $ 10,000 $ 10,000 Fixed-rate amortizing 4/1/24 4/1/24 1.36 1.16 6.80 2,385 3,465 $ 12,385 $ 13,465 |
Schedule of Maturities Other Borrowings | Maturities of other borrowings at December 31, 2016, are summarized as follows for the years ended December 31: (Dollars in thousands) Amount Weighted 2017 $ 10,730 3.44% 2018 534 1.16 2019 389 1.16 2020 279 1.16 2021 and beyond 453 1.16 $ 12,385 3.14% |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Income Tax Disclosure [Abstract] | |
Provision for Income Taxes | The provision for income taxes consisted of the following for the years ended December 31: (Dollars in thousands) 2016 2015 2014 Current $ 2,973 $ 2,564 $ 2,393 Deferred (4 ) 83 175 Total income tax provision $ 2,969 $ 2,647 $ 2,568 |
Income Tax Provision Attributable to Income from Operations | The income tax provision attributable to income from operations differed from the amounts computed by applying the statutory federal income tax rate of 34% to income before income taxes as follows: (Dollars in thousands) 2016 2015 2014 Expected provision using statutory federal income tax rate $ 3,300 $ 2,947 $ 2,874 Tax-exempt (241 ) (216 ) (188 ) Interest expense associated with carrying certain state and municipal securities and political subdivision loans 5 4 4 Tax-exempt (94 ) (92 ) (90 ) Other (1 ) 4 (32 ) Total income tax provision $ 2,969 $ 2,647 $ 2,568 |
Tax Effects of Temporary Differences of Deferred Tax Assets and Deferred Tax Liabilities | The tax effects of temporary differences that give rise to deferred tax assets and deferred tax liabilities at December 31 were as follows: (Dollars in thousands) 2016 2015 Allowance for loan losses $ 1,957 $ 1,743 Net operating loss carryforward 84 213 Unrealized loss on securities available-for-sale 450 215 Other 29 41 Deferred tax assets 2,520 2,212 Premises and equipment (384 ) (359 ) Federal Home Loan Bank stock dividends (609 ) (609 ) Deferred loan fees (362 ) (326 ) Prepaid expenses (182 ) (193 ) Other (380 ) (361 ) Deferred tax liabilities (1,917 ) (1,848 ) Net deferred tax asset $ 603 $ 364 |
Employee Benefits (Tables)
Employee Benefits (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Postemployment Benefits [Abstract] | |
Summary of Stock Options Activity | The following table summarizes stock options activity for the years ended December 31: 2016 2015 2014 Shares Weighted Shares Weighted Shares Weighted Outstanding at beginning of year 5,952 $ 18.00 11,904 $ 18.00 30,760 $ 17.90 Granted – – – – – – Exercised (5,952 ) (18.00 ) (5,952 ) (18.00 ) (18,856 ) (17.84 ) Forfeited – – – Outstanding at end of year – – 5,952 18.00 11,904 18.00 Options exercisable at year-end – $ – 5,952 $ 18.00 11,904 $ 18.00 Weighted-average fair value of options granted during year N/A N/A N/A N/A |
Financial Instruments with Of37
Financial Instruments with Off-Balance Sheet Risk (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Commitments and Contingencies Disclosure [Abstract] | |
Summary of Financial Instruments whose Contract Amount Represents Credit Risk | The following financial instruments whose contract amount represents credit risk were outstanding at December 31: (Dollars in thousands) 2016 2015 Commitments to extend credit $ 162,763 $ 136,293 Letters of credit 972 1,937 |
Related-Party Transactions (Tab
Related-Party Transactions (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Related Party Transactions [Abstract] | |
Summary of Analysis of Activity of Related-Party Loans | The following is an analysis of activity of related-party loans for the years ended December 31: (Dollars in thousands) 2016 2015 Balance at beginning of year $ 495 $ 4,417 New loans and advances 84 69 Repayments, including loans sold 117 148 Changes in related parties 1 (141 ) (3,843 ) Balance at end of year $ 321 $ 495 1 |
Regulatory Matters (Tables)
Regulatory Matters (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Banking and Thrift [Abstract] | |
Summary of Actual Capital Amounts and Ratios of Company and Bank | The actual capital amounts and ratios of the Company and Bank as of December 31 are presented in the following tables: Actual Minimum Minimum Required (Dollars in thousands) Amount Ratio Amount Ratio Amount Ratio 2016 Total capital to risk-weighted assets Consolidated $ 66,545 13.7 % $ 38,936 8.0 % $ 48,670 10.0 % Bank 65,420 13.5 38,925 8.0 48,656 10.0 Tier 1 capital to risk-weighted assets Consolidated 61,246 12.6 29,202 6.0 38,936 8.0 Bank 60,121 12.4 29,194 6.0 38,925 8.0 Common equity Tier 1 capital to risk-weighted assets Consolidated 61,246 12.6 21,901 4.5 31,635 6.5 Bank 60,121 12.4 21,895 4.5 31,626 6.5 Tier 1 capital to average assets Consolidated 61,246 9.3 26,330 4.0 32,913 5.0 Bank 60,121 9.1 26,325 4.0 32,906 5.0 2015 Total capital to risk-weighted assets Consolidated $ 61,210 13.5 % $ 36,226 8.0 % $ 45,283 10.0 % Bank 60,151 13.3 36,216 8.0 45,270 10.0 Tier 1 capital to risk-weighted assets Consolidated 56,540 12.5 27,170 6.0 36,226 8.0 Bank 55,481 12.3 27,162 6.0 36,216 8.0 Common equity Tier 1 capital to risk-weighted assets Consolidated 56,540 12.5 20,377 4.5 29,434 6.5 Bank 55,481 12.3 20,371 4.5 29,425 6.5 Tier 1 capital to average assets Consolidated 56,540 8.7 25,871 4.0 32,338 5.0 Bank 55,481 8.6 25,865 4.0 32,332 5.0 |
Condensed Parent Company Fina40
Condensed Parent Company Financial Information (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | |
Summary of Condensed Financial Information | A summary of condensed financial information of the parent company as of December 31, 2016 and 2015, and for each of the three years in the period ended December 31, 2016 follows: (Dollars in thousands) 2016 2015 CONDENSED BALANCE SHEETS ASSETS Cash deposited with subsidiary bank $ 921 $ 790 Investment in subsidiary bank 64,272 60,201 Securities available-for-sale 80 64 Other assets 195 218 TOTAL ASSETS $ 65,468 $ 61,273 LIABILITIES AND SHAREHOLDERS’ EQUITY Total liabilities $ 53 $ 7 Total shareholders’ equity 65,415 61,266 TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY $ 65,468 $ 61,273 |
Summary of Condensed Statements of Comprehensive Income | (Dollars in thousands) 2016 2015 2014 CONDENSED STATEMENTS OF COMPREHENSIVE INCOME Interest on securities $ 2 $ 2 $ 2 Dividends from subsidiary 2,450 2,400 2,400 Securities gains – 35 – Total income 2,452 2,437 2,402 Operating expenses 384 465 312 Income before taxes and undistributed equity income of subsidiary 2,068 1,972 2,090 Income tax benefit (131 ) (146 ) (141 ) Equity earnings in subsidiary, net of dividends 4,539 3,904 3,653 NET INCOME $ 6,738 $ 6,022 $ 5,884 COMPREHENSIVE INCOME $ 6,281 $ 5,887 $ 7,058 |
Summary of Condensed Statements of Cash Flows | (Dollars in thousands) 2016 2015 2014 CONDENSED STATEMENTS OF CASH FLOWS Cash flows from operating activities: Net income $ 6,738 $ 6,022 $ 5,884 Adjustments to reconcile net income to cash provided by operations: Equity earnings in subsidiary, net of dividends (4,539 ) (3,904 ) (3,653 ) Securities gain – (35 ) – Change in other assets, liabilities 71 2 (111 ) Net cash provided by operating activities 2,270 2,085 2,120 Cash flows from investing activities: Proceeds from sale of securities – 88 – Net cash provided by investing activities – 88 – Cash flows from financing activities: Cash dividends paid (2,139 ) (2,082 ) (2,026 ) Cash received from exercise of stock options – – 7 Net cash used in financing activities (2,139 ) (2,082 ) (2,019 ) Increase in cash 131 91 101 Cash at beginning of year 790 699 598 Cash at end of year $ 921 $ 790 $ 699 |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Fair Value Disclosures [Abstract] | |
Schedule of Fair Value of Assets Measured on Recurring Basis | The following table presents the assets reported on the consolidated statements of financial condition at their fair value as of December 31, 2016 and December 31, 2015, by level within the fair value hierarchy. (Dollars in thousands) Level I Level II Level III Total Assets: December 31, 2016 Securities available-for-sale U.S. Treasury security $ 1,001 $ – $ – $ 1,001 U.S. Government agencies – 6,402 – 6,402 Mortgage-backed securities of government agencies – 55,837 – 55,837 Other mortgage-backed securities – 65 – 65 Asset-backed securities of government agencies – 1,266 – 1,266 State and political subdivisions – 29,708 – 29,708 Corporate bonds – 9,516 – 9,516 Total debt securities 1,001 102,794 – 103,795 Equity securities 80 – – 80 Total available-for-sale $ 1,081 $ 102,794 $ – $ 103,875 Assets: December 31, 2015 Securities available-for-sale U.S. Treasury security $ 1,000 $ – $ – $ 1,000 U.S. Government agencies – 18,118 – 18,118 Mortgage-backed securities of government agencies – 63,179 – 63,179 Other mortgage-backed securities – 104 – 104 Asset-backed securities of government agencies – 1,392 – 1,392 State and political subdivisions – 25,301 – 25,301 Corporate bonds – 18,811 – 18,811 Total debt securities 1,000 126,905 – 127,905 Equity securities 64 – – 64 Total available-for-sale $ 1,064 $ 126,905 $ – $ 127,969 |
Schedule of Fair Value of Assets Measured on Nonrecurring Basis | The following table presents the assets measured on a nonrecurring basis on the consolidated balance sheets at their fair value as of December 31, 2016 and December 31, 2015, by level within the fair value hierarchy. (Dollars in thousands) Level I Level II Level III Total Assets measured on a nonrecurring basis December 31, 2016 Impaired loans $ – $ – $ 6,427 $ 6,427 Assets measured on a nonrecurring basis December 31, 2015 Impaired loans $ – $ – $ 8,335 $ 8,335 |
Schedule of Quantitative Information of Assets Measured at Fair Value on Nonrecurring Basis | The following table presents additional quantitative information about assets measured at fair value on a nonrecurring basis and for which the Company has utilized Level III inputs to determine fair value: Quantitative Information about Level III Fair Value Measurements (Dollars in thousands) Fair Value Valuation Unobservable Input Range (Weighted Average) December 31, 2016 Impaired loans $ 5,331 Discounted Remaining term Discount rate 6 mos to 29.9 yrs / (61.1 mos 3.1% to 12.0% / (4.9 ) %) 1,097 Appraisal of 1 Appraisal adjustments 2 2 0% to –50% (–21.7 –10 %) % December 31, 2015 Impaired loans $ 7,256 Discounted Remaining term Discount rate 2 mos to 29.5 yrs / (55 mos 3.1% to 8.3% / (4.3 ) %) 1,079 Appraisal of 1 Appraisal adjustments 2 2 –20% to –30% (–26 –10 %) % 1 2 |
Fair Values of Financial Inst42
Fair Values of Financial Instruments (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Investments, All Other Investments [Abstract] | |
Schedule of Estimated Fair Values of Recognized Financial Instruments | The estimated fair values of recognized financial instruments as of December 31 were as follows: 2016 (Dollars in thousands) Carrying Level I Level II Level III Total Fair Financial assets Cash and cash equivalents $ 36,838 $ 36,838 $ – $ – $ 36,838 Securities available-for-sale 103,875 1,081 102,794 – 103,875 Securities held-to-maturity 23,883 – 23,444 – 23,444 Restricted stock 4,614 4,614 – – 4,614 Net loans 470,158 – – 471,815 471,815 Bank-owned life insurance 10,361 10,361 – – 10,361 Accrued interest receivable 1,409 1,409 – – 1,409 Mortgage servicing rights 261 – – 261 261 Financial liabilities Deposits $ 540,785 $ 428,676 $ – $ 112,642 $ 541,318 Short-term borrowings 48,742 48,742 – – 48,742 Other borrowings 12,385 – – 12,511 12,511 Accrued interest payable 76 76 – – 76 2015 (Dollars in thousands) Carrying Level I Level II Level III Total Fair Financial assets Cash and cash equivalents $ 38,272 $ 38,272 $ – $ – $ 38,272 Securities available-for-sale 127,969 1,064 126,905 – 127,969 Securities held-to-maturity 33,819 – 34,011 – 34,011 Restricted stock 4,614 4,614 – – 4,614 Loans held for sale 47 47 – – 47 Net loans 418,209 – – 420,181 420,181 Bank-owned life insurance 10,085 10,085 – – 10,085 Accrued interest receivable 1,513 1,513 – – 1,513 Mortgage servicing rights 246 – – 246 246 Financial liabilities Deposits $ 525,042 $ 405,776 $ – $ 119,867 $ 525,643 Short-term borrowings 48,598 48,598 – – 48,598 Other borrowings 13,465 – – 13,667 13,667 Accrued interest payable 80 80 – – 80 |
Accumulated Other Comprehensi43
Accumulated Other Comprehensive Income (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Equity [Abstract] | |
Schedule of Changes in Accumulated Other Comprehensive (Loss) Income by Component Net of Tax | The following table presents the changes in accumulated other comprehensive (loss) income by component net of tax for the years ended December 31, 2016 and 2015. (Dollars in thousands) Pretax Tax Effect After-Tax Affected Line Balance as of December 31, 2015 $ (631 ) $ 214 $ (417 ) Unrealized holding loss on available-for-sale (1,221 ) 415 (806 ) Amount reclassified for net gains included in net income (1 ) – (1 ) (a) Amortization of held-to-maturity 530 (180 ) 350 Total other comprehensive loss (692 ) 235 (457 ) BALANCE AS OF DECEMBER 31, 2016 $ (1,323 ) $ 449 $ (874 ) Balance as of December 31, 2014 $ (427 ) $ 145 $ (282 ) Unrealized holding loss on available-for-sale (551 ) 187 (364 ) Amount reclassified for net gains included in net income (56 ) 19 (37 ) (a) (b) Amortization of held-to-maturity 403 (137 ) 266 Total other comprehensive loss (204 ) 69 (135 ) BALANCE AS OF DECEMBER 31, 2015 $ (631 ) $ 214 $ (417 ) (a) Securities gain. (b) Federal income tax provision. |
Quarterly Financial Data (Una44
Quarterly Financial Data (Unaudited) (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Quarterly Financial Information Disclosure [Abstract] | |
Summary of Quarterly Financial Data | The following is a summary of selected quarterly financial data (unaudited) for the years ended December 31: (Dollars in thousands, except per share data) Interest Income Net Interest Income Net Income Basic Earnings Per Share Diluted Earnings Per Share 2016 First quarter $ 5,661 $ 5,285 $ 1,480 $ 0.54 $ 0.54 Second quarter 5,813 5,446 1,611 0.59 0.59 Third quarter 5,863 5,497 1,694 0.61 0.61 Fourth quarter 6,295 5,931 1,953 0.72 0.72 2015 First quarter $ 5,407 $ 5,014 $ 1,342 $ 0.49 $ 0.49 Second quarter 5,568 5,175 1,517 0.55 0.55 Third quarter 5,463 5,068 1,556 0.57 0.57 Fourth quarter 5,559 5,173 1,607 0.59 0.59 2014 First quarter $ 5,336 $ 4,898 $ 1,416 $ 0.52 $ 0.52 Second quarter 5,484 5,045 1,522 0.55 0.55 Third quarter 5,435 4,997 1,507 0.55 0.55 Fourth quarter 5,401 4,987 1,439 0.53 0.53 |
Summary of Significant Accoun45
Summary of Significant Accounting Policies - Additional Information (Detail) | 12 Months Ended | |||
Dec. 31, 2016USD ($)SegmentBankingCentersshares | Dec. 31, 2015USD ($)shares | Dec. 31, 2014USD ($)shares | Dec. 31, 2013shares | |
Summary Of Significant Accounting Policies [Line Items] | ||||
Number of operating industry segment | Segment | 1 | |||
Number of banking centers | BankingCenters | 16 | |||
Cash reserve requirement | $ 0 | $ 0 | ||
Investment in FHLB, impairment charges | $ 0 | 0 | ||
Loan held for sale maximum period | 3 days | |||
Amount of other real state owned | $ 0 | 0 | ||
Impairment on goodwill | 0 | 0 | ||
Advertising expenses | 215,000 | 229,000 | $ 182,000 | |
Stock options outstanding | 0 | |||
Stock-based compensation expenses | $ 0 | $ 0 | $ 0 | |
Stock options outstanding | shares | 0 | |||
Options outstanding | shares | 0 | 5,952 | 11,904 | 30,760 |
Prior Period Reclassification Adjustment Effect | $ 0 | |||
Held-to-Maturity Securities [Member] | ||||
Summary Of Significant Accounting Policies [Line Items] | ||||
Total investment portfolio classified as held-to-maturity | 18.00% | |||
Minimum [Member] | ||||
Summary Of Significant Accounting Policies [Line Items] | ||||
Cash and cash equivalents, amounts due from banks and federal fund sold, maturity period | 1 day | |||
Maximum [Member] | ||||
Summary Of Significant Accounting Policies [Line Items] | ||||
Cash and cash equivalents, amounts due from banks and federal fund sold, maturity period | 90 days | |||
Buildings [Member] | Minimum [Member] | ||||
Summary Of Significant Accounting Policies [Line Items] | ||||
Estimated useful life of individual assets | 20 years | |||
Buildings [Member] | Maximum [Member] | ||||
Summary Of Significant Accounting Policies [Line Items] | ||||
Estimated useful life of individual assets | 40 years | |||
Equipment [Member] | Minimum [Member] | ||||
Summary Of Significant Accounting Policies [Line Items] | ||||
Estimated useful life of individual assets | 3 years | |||
Equipment [Member] | Maximum [Member] | ||||
Summary Of Significant Accounting Policies [Line Items] | ||||
Estimated useful life of individual assets | 10 years |
Summary of Significant Accoun46
Summary of Significant Accounting Policies - Computation of Weighted Average Number of Common Shares Outstanding for Basic and Diluted Earnings Per Share (Detail) - shares | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Weighted Average Number of Shares Outstanding, Diluted [Abstract] | |||
Weighted average common shares | 2,980,602 | 2,980,602 | 2,980,602 |
Average treasury shares | (238,574) | (241,132) | (242,966) |
Total weighted average common shares outstanding (basic) | 2,742,028 | 2,739,470 | 2,737,636 |
Dilutive effect of assumed exercise of stock options | 2,638 | 1,442 | |
Weighted average common shares outstanding (diluted) | 2,742,028 | 2,742,108 | 2,739,078 |
Securities - Summary of Securit
Securities - Summary of Securities Available-for-Sale and Restricted Stock (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Amortized Cost, Available-for-sale | $ 104,757 | $ 127,628 |
Gross Unrealized Gains, Available-for-sale | 434 | 968 |
Gross Unrealized Losses, Available-for-sale | 1,316 | 627 |
Fair Value, Available-for-sale | 103,875 | 127,969 |
Amortized Cost, Held to maturity | 23,883 | 33,819 |
Gross Unrealized Gains, Held to maturity | 158 | 393 |
Gross Unrealized Losses, Held to maturity | 597 | 201 |
Fair Value, Held to maturity | 23,444 | 34,011 |
Amortized Cost | 133,254 | 166,061 |
Gross Unrealized Gains | 592 | 1,361 |
Gross Unrealized Losses | 1,913 | 828 |
Fair Value | 131,933 | 166,594 |
U.S. Government Agencies [Member] | ||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Amortized Cost, Available-for-sale | 6,500 | 18,239 |
Gross Unrealized Gains, Available-for-sale | 5 | |
Gross Unrealized Losses, Available-for-sale | 98 | 126 |
Fair Value, Available-for-sale | 6,402 | 18,118 |
Amortized Cost, Held to maturity | 9,472 | 15,586 |
Gross Unrealized Gains, Held to maturity | 17 | 312 |
Gross Unrealized Losses, Held to maturity | 396 | 46 |
Fair Value, Held to maturity | 9,093 | 15,852 |
Mortgage-Backed Securities of Government Agencies [Member] | ||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Amortized Cost, Available-for-sale | 56,187 | 62,930 |
Gross Unrealized Gains, Available-for-sale | 239 | 527 |
Gross Unrealized Losses, Available-for-sale | 589 | 278 |
Fair Value, Available-for-sale | 55,837 | 63,179 |
Amortized Cost, Held to maturity | 14,411 | 18,233 |
Gross Unrealized Gains, Held to maturity | 141 | 81 |
Gross Unrealized Losses, Held to maturity | 201 | 155 |
Fair Value, Held to maturity | 14,351 | 18,159 |
U.S. Treasury Security [Member] | ||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Amortized Cost, Available-for-sale | 1,001 | 1,002 |
Gross Unrealized Losses, Available-for-sale | 2 | |
Fair Value, Available-for-sale | 1,001 | 1,000 |
Other Mortgage-Backed Securities [Member] | ||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Amortized Cost, Available-for-sale | 65 | 104 |
Fair Value, Available-for-sale | 65 | 104 |
Asset-Backed Securities of Government Agencies [Member] | ||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Amortized Cost, Available-for-sale | 1,312 | 1,464 |
Gross Unrealized Losses, Available-for-sale | 46 | 72 |
Fair Value, Available-for-sale | 1,266 | 1,392 |
State and Political Subdivisions [Member] | ||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Amortized Cost, Available-for-sale | 30,007 | 24,924 |
Gross Unrealized Gains, Available-for-sale | 140 | 418 |
Gross Unrealized Losses, Available-for-sale | 439 | 41 |
Fair Value, Available-for-sale | 29,708 | 25,301 |
Corporate Bonds [Member] | ||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Amortized Cost, Available-for-sale | 9,632 | 18,912 |
Gross Unrealized Gains, Available-for-sale | 28 | 7 |
Gross Unrealized Losses, Available-for-sale | 144 | 108 |
Fair Value, Available-for-sale | 9,516 | 18,811 |
Equity Securities [Member] | ||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Amortized Cost, Available-for-sale | 53 | 53 |
Gross Unrealized Gains, Available-for-sale | 27 | 11 |
Fair Value, Available-for-sale | 80 | 64 |
Restricted Stock [Member] | ||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Amortized Cost | 4,614 | 4,614 |
Fair Value | $ 4,614 | $ 4,614 |
Securities - Summary of Amortiz
Securities - Summary of Amortized Cost and Fair Value of Debt Securities (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Available-for-sale | ||
Due in one year or less, Amortized Cost | $ 4,313 | |
Due after one through five years, Amortized Cost | 22,039 | |
Due after five through ten years, Amortized Cost | 23,715 | |
Due after ten years, Amortized Cost | 54,637 | |
Total debt securities available-for-sale, Amortized Cost | 104,704 | |
Due in one year or less, Fair Value | 4,315 | |
Due after one through five years, Fair Value | 22,037 | |
Due after five through ten years, Fair Value | 23,452 | |
Due after ten years, Fair Value | 53,991 | |
Total debt securities available-for-sale, Fair Value | 103,795 | |
Held-to-maturity | ||
Due in one year or less, Amortized Cost | 0 | |
Due after one through five years, Amortized Cost | 0 | |
Due after five through ten years, Amortized Cost | 3,474 | |
Due after ten years, Amortized cost | 20,409 | |
Amortized Cost, Held to maturity | 23,883 | $ 33,819 |
Due in one year or less, Fair Value | 0 | |
Due after one through five years, Fair Value | 0 | |
Due after five through ten years, Fair Value | 3,334 | |
Due after ten years, Fair Value | 20,110 | |
Total debt securities held-to-maturity, Fair Value | $ 23,444 | $ 34,011 |
Securities - Additional Informa
Securities - Additional Information (Detail) $ in Thousands | 12 Months Ended | |
Dec. 31, 2016USD ($)Securities | Dec. 31, 2015USD ($) | |
Investments, Debt and Equity Securities [Abstract] | ||
Carrying value of pledged securities | $ 94,800 | $ 100,500 |
Restricted stock investment in FHLB stock | 4,100 | 4,100 |
Federal Reserve Bank stock | $ 471 | $ 471 |
Number of securities in an unrealized loss position, Total | Securities | 93 | |
Number of securities in continuous unrealized loss position, 12 months or more | Securities | 5 |
Securities - Summary of Proceed
Securities - Summary of Proceeds and Gains and Losses from Sales of Available-for-Sale Securities (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Investments, Debt and Equity Securities [Abstract] | |||
Proceeds | $ 1 | $ 1,576 | $ 2,483 |
Realized gains | 1 | 56 | 133 |
Realized losses | 0 | 0 | 0 |
Net securities gains | $ 1 | $ 56 | $ 133 |
Securities - Summary of Gross U
Securities - Summary of Gross Unrealized Losses and Fair Value of Available for Sale Securities (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Schedule of Available-for-sale Securities [Line Items] | ||
Held-to-maturity, Gross Unrealized Losses, Total | $ 597 | $ 201 |
Gross Unrealized Losses, Less Than 12 Months | 1,583 | 761 |
Fair Value, Less Than 12 Months | 67,186 | 68,677 |
Gross Unrealized Losses, 12 Months Or More | 330 | 67 |
Fair Value, 12 Months Or More | 6,776 | 6,061 |
Gross Unrealized Losses, Total | 1,913 | 828 |
Fair Value, Total | 73,962 | 74,738 |
U.S. Treasury Security [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Gross Unrealized Losses, Less Than 12 Months | 2 | |
Fair Value, Less Than 12 Months | 1,000 | |
Gross Unrealized Losses, Total | 2 | |
Fair Value, Total | 1,000 | |
U.S. Government Agencies [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Held-to-maturity, Gross Unrealized Losses, Less Than 12 Months | 396 | 46 |
Held-to-maturity, Fair Value, Less Than 12 Months | 8,602 | 5,954 |
Held-to-maturity, Gross Unrealized Losses, Total | 396 | 46 |
Held-to-maturity, Fair Value, Total | 8,602 | 5,954 |
Gross Unrealized Losses, Less Than 12 Months | 98 | 67 |
Fair Value, Less Than 12 Months | 6,402 | 9,172 |
Gross Unrealized Losses, 12 Months Or More | 59 | |
Fair Value, 12 Months Or More | 4,941 | |
Gross Unrealized Losses, Total | 98 | 126 |
Fair Value, Total | 6,402 | 14,113 |
Mortgage-Backed Securities of Government Agencies [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Held-to-maturity, Gross Unrealized Losses, Less Than 12 Months | 28 | 155 |
Held-to-maturity, Fair Value, Less Than 12 Months | 2,018 | 12,994 |
Held-to-maturity, Gross Unrealized Losses, 12 Months Or More | 173 | |
Held-to-maturity, Fair Value, 12 Months Or More | 3,621 | |
Held-to-maturity, Gross Unrealized Losses, Total | 201 | 155 |
Held-to-maturity, Fair Value, Total | 5,639 | 12,994 |
Gross Unrealized Losses, Less Than 12 Months | 589 | 278 |
Fair Value, Less Than 12 Months | 27,243 | 20,231 |
Gross Unrealized Losses, Total | 589 | 278 |
Fair Value, Total | 27,243 | 20,231 |
State and Political Subdivisions [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Gross Unrealized Losses, Less Than 12 Months | 439 | 33 |
Fair Value, Less Than 12 Months | 19,328 | 2,652 |
Gross Unrealized Losses, 12 Months Or More | 8 | |
Fair Value, 12 Months Or More | 1,120 | |
Gross Unrealized Losses, Total | 439 | 41 |
Fair Value, Total | 19,328 | 3,772 |
Corporate Bonds [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Gross Unrealized Losses, Less Than 12 Months | 33 | 108 |
Fair Value, Less Than 12 Months | 3,593 | 15,282 |
Gross Unrealized Losses, 12 Months Or More | 111 | |
Fair Value, 12 Months Or More | 1,889 | |
Gross Unrealized Losses, Total | 144 | 108 |
Fair Value, Total | 5,482 | 15,282 |
Asset-Backed Securities of Government Agencies [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Gross Unrealized Losses, Less Than 12 Months | 72 | |
Fair Value, Less Than 12 Months | 1,392 | |
Gross Unrealized Losses, 12 Months Or More | 46 | |
Fair Value, 12 Months Or More | 1,266 | |
Gross Unrealized Losses, Total | 46 | 72 |
Fair Value, Total | $ 1,266 | $ 1,392 |
Loans - Summary of Loans (Detai
Loans - Summary of Loans (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans before deferred costs | $ 474,968 | $ 422,413 |
Deferred loan costs | 481 | 458 |
Total Loans | 475,449 | 422,871 |
Commercial [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans before deferred costs | 134,268 | 123,143 |
Commercial Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans before deferred costs | 159,475 | 148,775 |
Residential Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans before deferred costs | 144,489 | 125,775 |
Construction & Land Development [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans before deferred costs | 23,428 | 15,452 |
Consumer [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans before deferred costs | $ 13,308 | $ 9,268 |
Loans - Additional Information
Loans - Additional Information (Detail) - USD ($) | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Percentage of outstanding principal balance of commercial real estate loans secured by owner-occupied properties | 77.00% | 76.00% |
Concentrations of loans to a single industry | $ 0 | $ 0 |
Loans classified as troubled debt restructurings | 6,400,000 | 7,600,000 |
Reserves allocated to customers whose loan terms are modified in troubled debt restructurings | 711,000 | 26,000 |
Loans payable in nonaccrual of interest status | 394,000 | |
Loans restructured, subsequently defaulted | 84,000 | |
Foreclosed real estate | 0 | 0 |
Mortgage loans in process of foreclosure amount | 448,000 | 89,000 |
Outstanding balance of commercial loans classified under credit risk, minimum amount | 300,000 | |
Loans listed as not rated under risk category, maximum amount | 300,000 | |
Loans serviced for others | 85,900,000 | 76,300,000 |
Mortgage Servicing Rights [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Mortgage servicing rights | 261,000 | 246,000 |
Valuation allowance | 0 | 0 |
Residential Mortgage [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Residential Mortgage Loans with servicing retained | 61,800,000 | $ 59,900,000 |
Residential Real Estate Loan Restructured In 2015 [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans restructured, subsequently defaulted | 0 | |
Performing [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans classified as troubled debt restructurings | $ 6,000,000 |
Loans - Summary of Allowance fo
Loans - Summary of Allowance for Loan Losses (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Beginning balance | $ 4,662 | $ 4,381 | $ 5,085 |
PROVISION FOR LOAN LOSSES | 493 | 389 | 643 |
Charge-offs | (418) | (348) | (1,422) |
Recoveries | 554 | 240 | 75 |
Net charge-offs | 136 | (108) | (1,347) |
Ending balance | 5,291 | 4,662 | 4,381 |
Commercial [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Beginning balance | 1,664 | 1,289 | 1,219 |
PROVISION FOR LOAN LOSSES | 626 | 285 | 1,047 |
Charge-offs | (297) | (109) | (1,005) |
Recoveries | 214 | 199 | 28 |
Net charge-offs | (83) | 90 | (977) |
Ending balance | 2,207 | 1,664 | 1,289 |
Commercial Real Estate [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Beginning balance | 1,271 | 1,524 | 1,872 |
PROVISION FOR LOAN LOSSES | (291) | (205) | 23 |
Charge-offs | (50) | (61) | (379) |
Recoveries | 334 | 13 | 8 |
Net charge-offs | 284 | (48) | (371) |
Ending balance | 1,264 | 1,271 | 1,524 |
Residential Real Estate [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Beginning balance | 1,086 | 1,039 | 1,205 |
PROVISION FOR LOAN LOSSES | 110 | 161 | (164) |
Charge-offs | (12) | (132) | (27) |
Recoveries | 5 | 18 | 25 |
Net charge-offs | (7) | (114) | (2) |
Ending balance | 1,189 | 1,086 | 1,039 |
Construction & Land Development [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Beginning balance | 123 | 142 | 178 |
PROVISION FOR LOAN LOSSES | 55 | (19) | (36) |
Ending balance | 178 | 123 | 142 |
Consumer [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Beginning balance | 86 | 60 | 91 |
PROVISION FOR LOAN LOSSES | 113 | 62 | (34) |
Charge-offs | (59) | (46) | (11) |
Recoveries | 1 | 10 | 14 |
Net charge-offs | (58) | (36) | 3 |
Ending balance | 141 | 86 | 60 |
Unallocated [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Beginning balance | 432 | 327 | 520 |
PROVISION FOR LOAN LOSSES | (120) | 105 | (193) |
Ending balance | $ 312 | $ 432 | $ 327 |
Loans - Allowances for Loan Los
Loans - Allowances for Loan Losses and Ending Balances by Portfolio Segment and Impairment Method (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Individually evaluated for impairment | $ 729 | $ 389 | ||
Collectively evaluated for impairment | 4,562 | 4,273 | ||
Total ending allowance balance | 5,291 | 4,662 | $ 4,381 | $ 5,085 |
Loans: | ||||
Loans individually evaluated for impairment | 7,156 | 8,724 | ||
Loans collectively evaluated for impairment | 467,812 | 413,689 | ||
Total ending loans balance | 474,968 | 422,413 | ||
Commercial [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Individually evaluated for impairment | 705 | 299 | ||
Collectively evaluated for impairment | 1,502 | 1,365 | ||
Total ending allowance balance | 2,207 | 1,664 | 1,289 | 1,219 |
Loans: | ||||
Loans individually evaluated for impairment | 5,028 | 6,127 | ||
Loans collectively evaluated for impairment | 129,240 | 117,016 | ||
Total ending loans balance | 134,268 | 123,143 | ||
Commercial Real Estate [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Individually evaluated for impairment | 64 | |||
Collectively evaluated for impairment | 1,264 | 1,207 | ||
Total ending allowance balance | 1,264 | 1,271 | 1,524 | 1,872 |
Loans: | ||||
Loans individually evaluated for impairment | 621 | 1,064 | ||
Loans collectively evaluated for impairment | 158,854 | 147,711 | ||
Total ending loans balance | 159,475 | 148,775 | ||
Residential Real Estate [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Individually evaluated for impairment | 24 | 26 | ||
Collectively evaluated for impairment | 1,165 | 1,060 | ||
Total ending allowance balance | 1,189 | 1,086 | 1,039 | 1,205 |
Loans: | ||||
Loans individually evaluated for impairment | 1,507 | 1,533 | ||
Loans collectively evaluated for impairment | 142,982 | 124,242 | ||
Total ending loans balance | 144,489 | 125,775 | ||
Construction & Land Development [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Collectively evaluated for impairment | 178 | 123 | ||
Total ending allowance balance | 178 | 123 | 142 | 178 |
Loans: | ||||
Loans collectively evaluated for impairment | 23,428 | 15,452 | ||
Total ending loans balance | 23,428 | 15,452 | ||
Consumer [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Collectively evaluated for impairment | 141 | 86 | ||
Total ending allowance balance | 141 | 86 | 60 | 91 |
Loans: | ||||
Loans collectively evaluated for impairment | 13,308 | 9,268 | ||
Total ending loans balance | 13,308 | 9,268 | ||
Unallocated [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Collectively evaluated for impairment | 312 | 432 | ||
Total ending allowance balance | $ 312 | $ 432 | $ 327 | $ 520 |
Loans - Schedule of Impairment
Loans - Schedule of Impairment by Class of Loans (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Financing Receivable, Impaired [Line Items] | |||
Unpaid Principal Balance | $ 7,953 | $ 9,495 | $ 10,568 |
Recorded Investment With No Allowance | 3,326 | 7,469 | 7,724 |
Recorded Investment With Allowance | 3,847 | 1,262 | 1,495 |
Total Recorded Investment | 7,173 | 8,731 | 9,219 |
Related Allowance | 729 | 389 | 184 |
Average Recorded Investment | 8,902 | 9,063 | 11,258 |
Interest Income Recognized | 312 | 309 | 359 |
Commercial [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Unpaid Principal Balance | 5,476 | 6,541 | 7,011 |
Recorded Investment With No Allowance | 1,690 | 5,832 | 5,889 |
Recorded Investment With Allowance | 3,354 | 301 | 37 |
Total Recorded Investment | 5,044 | 6,133 | 5,926 |
Related Allowance | 705 | 299 | |
Average Recorded Investment | 6,609 | 5,972 | 6,739 |
Interest Income Recognized | 241 | 230 | 208 |
Commercial Real Estate [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Unpaid Principal Balance | 796 | 1,265 | 1,836 |
Recorded Investment With No Allowance | 600 | 670 | 950 |
Recorded Investment With Allowance | 21 | 393 | 728 |
Total Recorded Investment | 621 | 1,063 | 1,678 |
Related Allowance | 64 | 109 | |
Average Recorded Investment | 786 | 1,420 | 2,723 |
Interest Income Recognized | 10 | 18 | 90 |
Residential Real Estate [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Unpaid Principal Balance | 1,681 | 1,689 | 1,721 |
Recorded Investment With No Allowance | 1,036 | 967 | 885 |
Recorded Investment With Allowance | 472 | 568 | 730 |
Total Recorded Investment | 1,508 | 1,535 | 1,615 |
Related Allowance | 24 | 26 | 75 |
Average Recorded Investment | 1,507 | 1,671 | 1,796 |
Interest Income Recognized | $ 61 | $ 61 | $ 61 |
Loans - Schedule of Aging of Pa
Loans - Schedule of Aging of Past Due and Nonaccrual Loans (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | $ 471,722 | $ 419,645 |
Nonaccrual | 1,449 | 1,576 |
Total Past Due and Nonaccrual | 3,246 | 2,768 |
Total ending loans balance | 474,968 | 422,413 |
30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 1,423 | 683 |
60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 139 | 404 |
90 Days Plus Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 235 | 105 |
Commercial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 133,630 | 122,760 |
Nonaccrual | 425 | 177 |
Total Past Due and Nonaccrual | 638 | 383 |
Total ending loans balance | 134,268 | 123,143 |
Commercial [Member] | 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 151 | 34 |
Commercial [Member] | 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 62 | 172 |
Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 158,504 | 147,920 |
Nonaccrual | 497 | 796 |
Total Past Due and Nonaccrual | 971 | 855 |
Total ending loans balance | 159,475 | 148,775 |
Commercial Real Estate [Member] | 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 435 | |
Commercial Real Estate [Member] | 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 59 | |
Commercial Real Estate [Member] | 90 Days Plus Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 39 | |
Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 142,926 | 124,408 |
Nonaccrual | 490 | 603 |
Total Past Due and Nonaccrual | 1,563 | 1,367 |
Total ending loans balance | 144,489 | 125,775 |
Residential Real Estate [Member] | 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 816 | 486 |
Residential Real Estate [Member] | 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 61 | 173 |
Residential Real Estate [Member] | 90 Days Plus Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 196 | 105 |
Construction & Land Development [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 23,428 | 15,452 |
Total ending loans balance | 23,428 | 15,452 |
Consumer [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 13,234 | 9,105 |
Nonaccrual | 37 | |
Total Past Due and Nonaccrual | 74 | 163 |
Total ending loans balance | 13,308 | 9,268 |
Consumer [Member] | 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 21 | $ 163 |
Consumer [Member] | 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | $ 16 |
Loans - Summary of Troubled Deb
Loans - Summary of Troubled Debt Restructurings (Detail) $ in Thousands | 12 Months Ended | |
Dec. 31, 2016USD ($)Contract | Dec. 31, 2015USD ($)Contract | |
Financing Receivable, Modifications [Line Items] | ||
Number Of Loans Restructured | Contract | 5 | 6 |
Pre-Modification Recorded Investment | $ 3,708 | $ 455 |
Post-Modification Recorded Investment | $ 3,708 | $ 455 |
Commercial [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number Of Loans Restructured | Contract | 4 | 1 |
Pre-Modification Recorded Investment | $ 3,607 | $ 148 |
Post-Modification Recorded Investment | $ 3,607 | $ 148 |
Residential Real Estate [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number Of Loans Restructured | Contract | 1 | 5 |
Pre-Modification Recorded Investment | $ 101 | $ 307 |
Post-Modification Recorded Investment | $ 101 | $ 307 |
Loans - Summary of Loans by Cre
Loans - Summary of Loans by Credit Quality Indicator (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | $ 474,968 | $ 422,413 |
Commercial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 134,268 | 123,143 |
Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 159,475 | 148,775 |
Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 144,489 | 125,775 |
Construction & Land Development [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 23,428 | 15,452 |
Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 13,308 | 9,268 |
Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 283,768 | 265,055 |
Pass [Member] | Commercial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 116,739 | 112,229 |
Pass [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 149,630 | 141,621 |
Pass [Member] | Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 216 | 190 |
Pass [Member] | Construction & Land Development [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 17,183 | 11,015 |
Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 12,023 | 6,786 |
Special Mention [Member] | Commercial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 6,874 | 3,100 |
Special Mention [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 4,168 | 2,742 |
Special Mention [Member] | Construction & Land Development [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 981 | 944 |
Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 15,149 | 10,407 |
Substandard [Member] | Commercial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 9,704 | 7,044 |
Substandard [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 4,766 | 3,150 |
Substandard [Member] | Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 175 | 213 |
Substandard [Member] | Construction & Land Development [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 504 | |
Not Rated [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 164,028 | 140,165 |
Not Rated [Member] | Commercial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 951 | 770 |
Not Rated [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 911 | 1,262 |
Not Rated [Member] | Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 144,098 | 125,372 |
Not Rated [Member] | Construction & Land Development [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 4,760 | 3,493 |
Not Rated [Member] | Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | $ 13,308 | $ 9,268 |
Loans - Schedule of Loans Not R
Loans - Schedule of Loans Not Rated by Class of Loans (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Financing Receivable, Recorded Investment [Line Items] | ||
Loans not rated by class of loans | $ 164,028 | $ 140,165 |
Commercial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans not rated by class of loans | 951 | 770 |
Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans not rated by class of loans | 911 | 1,262 |
Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans not rated by class of loans | 144,098 | 125,372 |
Construction & Land Development [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans not rated by class of loans | 4,760 | 3,493 |
Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans not rated by class of loans | 13,308 | 9,268 |
Performing [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans not rated by class of loans | 163,333 | 139,493 |
Performing [Member] | Commercial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans not rated by class of loans | 951 | 770 |
Performing [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans not rated by class of loans | 911 | 1,262 |
Performing [Member] | Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans not rated by class of loans | 143,440 | 124,700 |
Performing [Member] | Construction & Land Development [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans not rated by class of loans | 4,760 | 3,493 |
Performing [Member] | Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans not rated by class of loans | 13,271 | 9,268 |
Nonperforming [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans not rated by class of loans | 695 | 672 |
Nonperforming [Member] | Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans not rated by class of loans | 658 | $ 672 |
Nonperforming [Member] | Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans not rated by class of loans | $ 37 |
Premises and Equipment - Compon
Premises and Equipment - Components of Premises and Equipment (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Property, Plant and Equipment [Line Items] | ||
Premises and equipment, gross | $ 18,509 | $ 19,552 |
Accumulated depreciation | 9,760 | 11,343 |
Premises and equipment, net | 8,749 | 8,209 |
Land and Improvements [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Premises and equipment, gross | 1,607 | 1,559 |
Buildings and Improvements [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Premises and equipment, gross | 10,365 | 9,702 |
Furniture and Equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Premises and equipment, gross | 6,346 | 8,031 |
Leasehold Improvements [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Premises and equipment, gross | $ 191 | $ 260 |
Premises and Equipment - Additi
Premises and Equipment - Additional Information (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Property, Plant and Equipment [Abstract] | |||
Rental Expenses | $ 191 | $ 301 | $ 299 |
Depreciation | $ 690 | $ 660 | $ 653 |
Premises and Equipment - Summar
Premises and Equipment - Summary of Future Minimum Lease Payments (Detail) $ in Thousands | Dec. 31, 2016USD ($) |
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract] | |
2,017 | $ 152 |
2,018 | 82 |
2,019 | 71 |
Total | $ 305 |
Core Deposit Intangible Asset64
Core Deposit Intangible Assets - Additional Information (Detail) - USD ($) | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Amortization Expense [Line Items] | |||
Amortization Expenses | $ 121,000 | $ 125,000 | $ 130,000 |
Core deposit intangible | 0 | 0 | 0 |
Core Deposits [Member] | |||
Amortization Expense [Line Items] | |||
Amortization Expenses | $ 121,000 | $ 125,000 | $ 130,000 |
Asset Amortized over an estimated life | 10 years |
Core Deposit Intangible Asset65
Core Deposit Intangible Assets - Core Deposit Intangible and Related Accumulated Amortization (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 |
Goodwill And Core Deposit Intangibles [Line Items] | |||
Net carrying amount | $ 383 | ||
Core Deposits [Member] | |||
Goodwill And Core Deposit Intangibles [Line Items] | |||
Gross carrying amount | 1,251 | $ 1,251 | $ 1,251 |
Accumulated amortization | (868) | (747) | (622) |
Net carrying amount | $ 383 | $ 504 | $ 629 |
Core Deposit Intangible Asset66
Core Deposit Intangible Assets - Future Amortization Expense for Core Deposit Asset (Detail) $ in Thousands | Dec. 31, 2016USD ($) |
Goodwill and Intangible Assets Disclosure [Abstract] | |
2,017 | $ 116 |
2,018 | 101 |
2,019 | 63 |
2,020 | 59 |
2,021 | 44 |
Net carrying amount | $ 383 |
Interest-Bearing Deposits - Sum
Interest-Bearing Deposits - Summary of Interest - Bearing Deposits (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Time deposits: | ||
Total interest-bearing deposits | $ 372,961 | $ 373,493 |
Interest-bearing Deposits [Member] | ||
Interest Bearing Deposits [Line Items] | ||
Demand | 97,683 | 86,472 |
Savings | 163,169 | 167,755 |
Time deposits: | ||
In excess of $250,000 | 13,102 | 13,834 |
Other | 99,007 | 105,432 |
Total interest-bearing deposits | $ 372,961 | $ 373,493 |
Interest-Bearing Deposits - Sta
Interest-Bearing Deposits - Stated Maturities of Time Deposits (Detail) $ in Thousands | Dec. 31, 2016USD ($) |
Banking and Thrift [Abstract] | |
2,017 | $ 57,670 |
2,018 | 27,439 |
2,019 | 15,400 |
2,020 | 5,336 |
2,021 | 6,264 |
Total | $ 112,109 |
Borrowings - Short-Term Borrowi
Borrowings - Short-Term Borrowings (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Equity Method Investments And Cost Method Investments [Abstract] | ||
Balance at year-end | $ 48,742 | $ 48,598 |
Average balance outstanding | 51,801 | 51,571 |
Maximum month-end balance | $ 55,642 | $ 54,462 |
Weighted-average rate at year-end | 0.16% | 0.14% |
Weighted-average rate during the year | 0.14% | 0.14% |
Borrowings - Summary of Repurch
Borrowings - Summary of Repurchase Agreements Accounted for as Secured Borrowings (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Short-term Debt [Abstract] | ||
Securities of U.S. Government agencies and mortgage-backed securities of government agencies pledged, fair value | $ 48,866 | $ 48,791 |
Repurchase agreements | $ 48,742 | $ 48,598 |
Borrowings - Concerning of Othe
Borrowings - Concerning of Other Borrowings (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Debt Instrument [Line Items] | ||
Other borrowings | $ 12,385 | $ 13,465 |
Fixed Rate Borrowing [Member] | ||
Debt Instrument [Line Items] | ||
Maturity date Range, From | Dec. 20, 2017 | |
Maturity date Range, To | Dec. 21, 2017 | |
Weighted Average Interest Rate | 3.61% | |
Other borrowings | $ 10,000 | 10,000 |
Fixed Rate Borrowing [Member] | Minimum [Member] | ||
Debt Instrument [Line Items] | ||
Stated Interest Rate Range | 3.48% | |
Fixed Rate Borrowing [Member] | Maximum [Member] | ||
Debt Instrument [Line Items] | ||
Stated Interest Rate Range | 3.73% | |
Fixed Rate Amortizing Borrowing [Member] | ||
Debt Instrument [Line Items] | ||
Maturity date Range, From | Apr. 1, 2024 | |
Maturity date Range, To | Apr. 1, 2024 | |
Weighted Average Interest Rate | 1.36% | |
Other borrowings | $ 2,385 | $ 3,465 |
Fixed Rate Amortizing Borrowing [Member] | Minimum [Member] | ||
Debt Instrument [Line Items] | ||
Stated Interest Rate Range | 1.16% | |
Fixed Rate Amortizing Borrowing [Member] | Maximum [Member] | ||
Debt Instrument [Line Items] | ||
Stated Interest Rate Range | 6.80% |
Borrowings - Schedule of Maturi
Borrowings - Schedule of Maturities Other Borrowings (Detail) - Other Borrowings [Member] $ in Thousands | Dec. 31, 2016USD ($) |
Debt Instrument [Line Items] | |
2,017 | $ 10,730 |
2,018 | 534 |
2,019 | 389 |
2,020 | 279 |
2021 and beyond | 453 |
Long term Debt, Total | $ 12,385 |
Weighted Average Interest Rate, 2017 | 3.44% |
Weighted Average Interest Rate, 2018 | 1.16% |
Weighted Average Interest Rate, 2019 | 1.16% |
Weighted Average Interest Rate, 2020 | 1.16% |
Weighted Average Interest Rate, 2021 and beyond | 1.16% |
Total | 3.14% |
Borrowings - Additional Informa
Borrowings - Additional Information (Detail) $ in Millions | Dec. 31, 2016USD ($) |
Debt Instrument [Line Items] | |
Additional borrowing capacity | $ 65.6 |
Minimum [Member] | |
Debt Instrument [Line Items] | |
Principal curtailment is due on borrowings | 10.00% |
Maximum [Member] | |
Debt Instrument [Line Items] | |
Principal curtailment is due on borrowings | 20.00% |
Income Taxes - Provision for In
Income Taxes - Provision for Income Taxes (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Income Tax Expense (Benefit), Continuing Operations [Abstract] | |||
Current | $ 2,973 | $ 2,564 | $ 2,393 |
Deferred | (4) | 83 | 175 |
Total income tax provision | $ 2,969 | $ 2,647 | $ 2,568 |
Income Taxes - Additional Infor
Income Taxes - Additional Information (Detail) | 12 Months Ended |
Dec. 31, 2016USD ($) | |
Income Tax Disclosure [Abstract] | |
Federal income tax effective rate | 34.00% |
Net operating loss tax carryforward | $ 248,000 |
Operating loss carryforward expiration | 2,026 |
Liability for uncertain tax position | $ 0 |
Unrecognized tax benefits | $ 0 |
Income Taxes - Income Tax Provi
Income Taxes - Income Tax Provision Attributable to Income from Operations (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Effective Income Tax Rate Reconciliation, Amount [Abstract] | |||
Expected provision using statutory federal income tax rate | $ 3,300 | $ 2,947 | $ 2,874 |
Tax-exempt income on state and municipal securities and political subdivision loans | (241) | (216) | (188) |
Interest expense associated with carrying certain state and municipal securities and political subdivision loans | 5 | 4 | 4 |
Tax-exempt income on bank owned life insurance | (94) | (92) | (90) |
Other | (1) | 4 | (32) |
Total income tax provision | $ 2,969 | $ 2,647 | $ 2,568 |
Income Taxes - Tax Effects of T
Income Taxes - Tax Effects of Temporary Differences of Deferred Tax Assets and Deferred Tax Liabilities (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Components of Deferred Tax Assets and Liabilities [Abstract] | ||
Allowance for loan losses | $ 1,957 | $ 1,743 |
Net operating loss carryforward | 84 | 213 |
Unrealized loss on securities available-for-sale | 450 | 215 |
Other | 29 | 41 |
Deferred tax assets | 2,520 | 2,212 |
Premises and equipment | (384) | (359) |
Federal Home Loan Bank stock dividends | (609) | (609) |
Deferred loan fees | (362) | (326) |
Prepaid expenses | (182) | (193) |
Other | (380) | (361) |
Deferred tax liabilities | (1,917) | (1,848) |
Net deferred tax asset | $ 603 | $ 364 |
Employee Benefits - Additional
Employee Benefits - Additional Information (Detail) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ||||
Profit sharing contribution | 3.00% | 2.75% | 2.75% | |
Company match of participant contributions | 50.00% | |||
Maximum annual compensation contribution | 2.00% | |||
Expense under plan | $ 338 | $ 304 | $ 269 | |
Stock options granted | 0 | 0 | 0 | |
Stock options vested | 0 | 0 | 0 | |
Stock option plan expire year | 2,013 | |||
Options outstanding | 0 | 5,952 | 11,904 | 30,760 |
Total intrinsic value of stock options and outstanding | $ 39 | |||
Total intrinsic value of exercisable stock options | $ 39 |
Employee Benefits - Summary of
Employee Benefits - Summary of Stock Options Activity (Detail) - $ / shares | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |||
Outstanding at beginning of year, Shares | 5,952 | 11,904 | 30,760 |
Granted, Shares | 0 | 0 | 0 |
Exercised, Shares | (5,952) | (5,952) | (18,856) |
Forfeited, Shares | 0 | 0 | 0 |
Outstanding at end of year, Shares | 0 | 5,952 | 11,904 |
Options exercisable at year-end, Shares | 5,952 | 11,904 | |
Outstanding at beginning of year, Weighted Average Exercise Price | $ 18 | $ 18 | $ 17.90 |
Granted, Weighted Average Exercise Price | 0 | 0 | 0 |
Exercised, Weighted Average Exercise Price | (18) | (18) | (17.84) |
Forfeited, Weighted Average Exercise Price | 0 | 0 | 0 |
Outstanding at end of year, Weighted Average Exercise Price | 18 | 18 | |
Options exercisable at year-end, Weighted Average Exercise Price | 18 | 18 | |
Weighted-average fair value of options granted during year, Weighted Average Exercise Price | $ 0 | $ 0 | $ 0 |
Financial Instruments with Of80
Financial Instruments with Off-Balance Sheet Risk - Summary of Financial Instruments whose Contract Amount Represents Credit Risk (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Off Balance Sheet Financing [Line Items] | ||
Fair value of financial instruments | $ 972 | $ 1,937 |
Commitments to Extend Credit [Member] | ||
Off Balance Sheet Financing [Line Items] | ||
Fair value of financial instruments | $ 162,763 | $ 136,293 |
Related-Party Transactions - Su
Related-Party Transactions - Summary of Analysis of Activity of Related-Party Loans (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Related Party Transactions [Abstract] | ||
Balance at beginning of year | $ 495 | $ 4,417 |
New loans and advances | 84 | 69 |
Repayments, including loans sold | 117 | 148 |
Changes in related parties | (141) | (3,843) |
Balance at end of year | $ 321 | $ 495 |
Related-Party Transactions - Ad
Related-Party Transactions - Additional Information (Detail) - USD ($) $ in Millions | Dec. 31, 2016 | Dec. 31, 2015 |
Related Party Transactions [Abstract] | ||
Deposits from executive officers, directors and their related business interests | $ 3 | $ 2.5 |
Regulatory Matters - Summary of
Regulatory Matters - Summary of Actual Capital Amounts and Ratios of Company and Bank (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Consolidated [Member] | ||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Total capital to risk-weighted assets, Actual Amount | $ 66,545 | $ 61,210 |
Tier 1 capital to risk-weighted assets, Actual Amount | 61,246 | 56,540 |
Common equity Tier 1 capital to risk-weighted assets, Actual Amount | 61,246 | 56,540 |
Tier 1 capital to average assets, Actual Amount | $ 61,246 | $ 56,540 |
Total capital to risk-weighted assets, Actual Ratio | 13.70% | 13.50% |
Tier 1 capital to risk-weighted assets, Actual Ratio | 12.60% | 12.50% |
Common equity Tier 1 capital to risk-weighted assets, Actual Ratio | 12.60% | 12.50% |
Tier 1 capital to average assets, Actual Ratio | 9.30% | 8.70% |
Total capital to risk-weighted assets, Minimum Required For Capital Adequacy Purposes Amount | $ 38,936 | $ 36,226 |
Tier 1 capital to risk-weighted assets, Minimum Required For Capital Adequacy Purposes Amount | 29,202 | 27,170 |
Common equity Tier I capital to risk-weighted assets, Minimum Required For Capital Adequacy Purposes Amount | 21,901 | 20,377 |
Tier 1 capital to average assets, Minimum Required For Capital Adequacy Purposes Amount | $ 26,330 | $ 25,871 |
Total capital to risk-weighted assets, Minimum Required For Capital Adequacy Purposes Ratio | 8.00% | 8.00% |
Tier 1 capital to risk-weighted assets, Minimum Required For Capital Adequacy Purposes Ratio | 6.00% | 6.00% |
Common equity Tier I capital to risk-weighted assets, Minimum Required For Capital Adequacy Purposes Ratio | 4.50% | 4.50% |
Tier 1 capital to average assets, Minimum Required For Capital Adequacy Purposes Ratio | 4.00% | 4.00% |
Total capital to risk-weighted assets, Minimum Required To Be Well Capitalized Under Prompt Corrective Action Amount | $ 48,670 | $ 45,283 |
Tier 1 capital to risk-weighted assets, Minimum Required To Be Well Capitalized Under Prompt Corrective Action Amount | 38,936 | 36,226 |
Common equity Tier I capital to risk-weighted assets, Minimum Required To Be Well Capitalized Under Prompt Corrective Action Amount | 31,635 | 29,434 |
Tier 1 capital to average assets, Minimum Required To Be Well Capitalized Under Prompt Corrective Action Amount | $ 32,913 | $ 32,338 |
Total capital to risk-weighted assets, Minimum Required To Be Well Capitalized Under Prompt Corrective Action Ratio | 10.00% | 10.00% |
Tier 1 capital to risk-weighted assets, Minimum Required To Be Well Capitalized Under Prompt Corrective Action Ratio | 8.00% | 8.00% |
Common equity Tier I capital to risk-weighted assets, Minimum Required To Be Well Capitalized Under Prompt Corrective Action Ratio | 6.50% | 6.50% |
Tier 1 capital to average assets, Minimum Required To Be Well Capitalized Under Prompt Corrective Action Ratio | 5.00% | 5.00% |
Bank [Member] | ||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Total capital to risk-weighted assets, Actual Amount | $ 65,420 | $ 60,151 |
Tier 1 capital to risk-weighted assets, Actual Amount | 60,121 | 55,481 |
Common equity Tier 1 capital to risk-weighted assets, Actual Amount | 60,121 | 55,481 |
Tier 1 capital to average assets, Actual Amount | $ 60,121 | $ 55,481 |
Total capital to risk-weighted assets, Actual Ratio | 13.50% | 13.30% |
Tier 1 capital to risk-weighted assets, Actual Ratio | 12.40% | 12.30% |
Common equity Tier 1 capital to risk-weighted assets, Actual Ratio | 12.40% | 12.30% |
Tier 1 capital to average assets, Actual Ratio | 9.10% | 8.60% |
Total capital to risk-weighted assets, Minimum Required For Capital Adequacy Purposes Amount | $ 38,925 | $ 36,216 |
Tier 1 capital to risk-weighted assets, Minimum Required For Capital Adequacy Purposes Amount | 29,194 | 27,162 |
Common equity Tier I capital to risk-weighted assets, Minimum Required For Capital Adequacy Purposes Amount | 21,895 | 20,371 |
Tier 1 capital to average assets, Minimum Required For Capital Adequacy Purposes Amount | $ 26,325 | $ 25,865 |
Total capital to risk-weighted assets, Minimum Required For Capital Adequacy Purposes Ratio | 8.00% | 8.00% |
Tier 1 capital to risk-weighted assets, Minimum Required For Capital Adequacy Purposes Ratio | 6.00% | 6.00% |
Common equity Tier I capital to risk-weighted assets, Minimum Required For Capital Adequacy Purposes Ratio | 4.50% | 4.50% |
Tier 1 capital to average assets, Minimum Required For Capital Adequacy Purposes Ratio | 4.00% | 4.00% |
Total capital to risk-weighted assets, Minimum Required To Be Well Capitalized Under Prompt Corrective Action Amount | $ 48,656 | $ 45,270 |
Tier 1 capital to risk-weighted assets, Minimum Required To Be Well Capitalized Under Prompt Corrective Action Amount | 38,925 | 36,216 |
Common equity Tier I capital to risk-weighted assets, Minimum Required To Be Well Capitalized Under Prompt Corrective Action Amount | 31,626 | 29,425 |
Tier 1 capital to average assets, Minimum Required To Be Well Capitalized Under Prompt Corrective Action Amount | $ 32,906 | $ 32,332 |
Total capital to risk-weighted assets, Minimum Required To Be Well Capitalized Under Prompt Corrective Action Ratio | 10.00% | 10.00% |
Tier 1 capital to risk-weighted assets, Minimum Required To Be Well Capitalized Under Prompt Corrective Action Ratio | 8.00% | 8.00% |
Common equity Tier I capital to risk-weighted assets, Minimum Required To Be Well Capitalized Under Prompt Corrective Action Ratio | 6.50% | 6.50% |
Tier 1 capital to average assets, Minimum Required To Be Well Capitalized Under Prompt Corrective Action Ratio | 5.00% | 5.00% |
Regulatory Matters - Additional
Regulatory Matters - Additional Information (Detail) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2016 | Jan. 01, 2017 | |
Schedule Of Regulatory Assets And Liabilities [Line Items] | ||
Period of Retained Earnings For Restriction of Dividend | 2 years | |
Maximum percentage of secured loans of Bank's common stock and capital surplus | 10.00% | |
Subsequent Event [Member] | ||
Schedule Of Regulatory Assets And Liabilities [Line Items] | ||
Provision for dividend to the Company | $ 12.1 |
Condensed Parent Company Fina85
Condensed Parent Company Financial Information - Summary of Condensed Financial Information (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 |
ASSETS | ||||
Cash deposited with subsidiary bank | $ 13,590 | $ 17,341 | ||
Securities available-for-sale | 103,875 | 127,969 | ||
TOTAL ASSETS | 669,978 | 650,314 | ||
LIABILITIES AND SHAREHOLDERS' EQUITY | ||||
Total liabilities | 604,563 | 589,048 | ||
Total shareholders' equity | 65,415 | 61,266 | $ 57,450 | $ 52,411 |
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | 669,978 | 650,314 | ||
Parent Company [Member] | ||||
ASSETS | ||||
Cash deposited with subsidiary bank | 921 | 790 | ||
Investment in subsidiary bank | 64,272 | 60,201 | ||
Securities available-for-sale | 80 | 64 | ||
Other assets | 195 | 218 | ||
TOTAL ASSETS | 65,468 | 61,273 | ||
LIABILITIES AND SHAREHOLDERS' EQUITY | ||||
Total liabilities | 53 | 7 | ||
Total shareholders' equity | 65,415 | 61,266 | ||
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | $ 65,468 | $ 61,273 |
Condensed Parent Company Fina86
Condensed Parent Company Financial Information - Summary of Condensed Statements of Comprehensive Income (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Interest on securities | $ 6,295 | $ 5,863 | $ 5,813 | $ 5,661 | $ 5,559 | $ 5,463 | $ 5,568 | $ 5,407 | $ 5,401 | $ 5,435 | $ 5,484 | $ 5,336 | $ 23,632 | $ 21,997 | $ 21,656 |
Securities gains | 1 | 56 | 133 | ||||||||||||
NET INCOME | $ 1,953 | $ 1,694 | $ 1,611 | $ 1,480 | $ 1,607 | $ 1,556 | $ 1,517 | $ 1,342 | $ 1,439 | $ 1,507 | $ 1,522 | $ 1,416 | 6,738 | 6,022 | 5,884 |
COMPREHENSIVE INCOME | 6,281 | 5,887 | 7,058 | ||||||||||||
Parent Company [Member] | |||||||||||||||
Interest on securities | 2 | 2 | 2 | ||||||||||||
Dividends from subsidiary | 2,450 | 2,400 | 2,400 | ||||||||||||
Securities gains | 35 | ||||||||||||||
Total income | 2,452 | 2,437 | 2,402 | ||||||||||||
Operating expenses | 384 | 465 | 312 | ||||||||||||
Income before taxes and undistributed equity income of subsidiary | 2,068 | 1,972 | 2,090 | ||||||||||||
Income tax benefit | (131) | (146) | (141) | ||||||||||||
Equity earnings in subsidiary, net of dividends | 4,539 | 3,904 | 3,653 | ||||||||||||
NET INCOME | 6,738 | 6,022 | 5,884 | ||||||||||||
COMPREHENSIVE INCOME | $ 6,281 | $ 5,887 | $ 7,058 |
Condensed Parent Company Fina87
Condensed Parent Company Financial Information - Summary of Condensed Statements of Cash Flows (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Cash flows from operating activities: | |||||||||||||||
Net income | $ 1,953 | $ 1,694 | $ 1,611 | $ 1,480 | $ 1,607 | $ 1,556 | $ 1,517 | $ 1,342 | $ 1,439 | $ 1,507 | $ 1,522 | $ 1,416 | $ 6,738 | $ 6,022 | $ 5,884 |
Adjustments to reconcile net income to cash provided by operations: | |||||||||||||||
Securities gain | (1) | (56) | (133) | ||||||||||||
Change in other assets, liabilities | (1,521) | 316 | (308) | ||||||||||||
Net cash provided by operating activities | 6,967 | 7,666 | 7,163 | ||||||||||||
Cash flows from investing activities: | |||||||||||||||
Proceeds from sale of securities | 1 | 1,576 | 2,483 | ||||||||||||
Net cash provided by investing activities | (21,069) | (36,685) | (23,421) | ||||||||||||
Cash flows from financing activities: | |||||||||||||||
Cash dividends paid | (2,139) | (2,082) | (2,026) | ||||||||||||
Cash received from exercise of stock options | 7 | ||||||||||||||
Net cash provided by financing activities | 12,668 | 23,368 | 17,582 | ||||||||||||
Increase in cash | (1,434) | (5,651) | 1,324 | ||||||||||||
Parent Company [Member] | |||||||||||||||
Cash flows from operating activities: | |||||||||||||||
Net income | 6,738 | 6,022 | 5,884 | ||||||||||||
Adjustments to reconcile net income to cash provided by operations: | |||||||||||||||
Equity earnings in subsidiary, net of dividends | (4,539) | (3,904) | (3,653) | ||||||||||||
Securities gain | (35) | ||||||||||||||
Change in other assets, liabilities | 71 | 2 | (111) | ||||||||||||
Net cash provided by operating activities | 2,270 | 2,085 | 2,120 | ||||||||||||
Cash flows from investing activities: | |||||||||||||||
Proceeds from sale of securities | 88 | ||||||||||||||
Net cash provided by investing activities | 88 | ||||||||||||||
Cash flows from financing activities: | |||||||||||||||
Cash dividends paid | (2,139) | (2,082) | (2,026) | ||||||||||||
Cash received from exercise of stock options | 7 | ||||||||||||||
Net cash provided by financing activities | (2,139) | (2,082) | (2,019) | ||||||||||||
Increase in cash | 131 | 91 | 101 | ||||||||||||
Cash at beginning of year | $ 790 | $ 699 | $ 598 | 790 | 699 | 598 | |||||||||
Cash at end of year | $ 921 | $ 790 | $ 699 | $ 921 | $ 790 | $ 699 |
Fair Value Measurements - Addit
Fair Value Measurements - Additional Information (Detail) - USD ($) | Dec. 31, 2016 | Dec. 31, 2015 |
Fair Value Disclosures [Abstract] | ||
Liabilities carried at fair value | $ 0 | $ 0 |
Fair Value Measurements - Sched
Fair Value Measurements - Schedule of Fair Value of Assets Measured on Recurring Basis (Detail) - Fair Value, Measurements, Recurring [Member] - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Total Securities Available-for-sale [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Assets | $ 103,875 | $ 127,969 |
U.S. Treasury Security [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Assets | 1,001 | 1,000 |
U.S. Government Agencies [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Assets | 6,402 | 18,118 |
Mortgage-Backed Securities of Government Agencies [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Assets | 55,837 | 63,179 |
Other Mortgage-Backed Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Assets | 65 | 104 |
Asset-Backed Securities of Government Agencies [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Assets | 1,266 | 1,392 |
State and Political Subdivisions [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Assets | 29,708 | 25,301 |
Corporate Bonds [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Assets | 9,516 | 18,811 |
Total Debt Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Assets | 103,795 | 127,905 |
Equity Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Assets | 80 | 64 |
Level I [Member] | Total Securities Available-for-sale [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Assets | 1,081 | 1,064 |
Level I [Member] | U.S. Treasury Security [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Assets | 1,001 | 1,000 |
Level I [Member] | Total Debt Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Assets | 1,001 | 1,000 |
Level I [Member] | Equity Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Assets | 80 | 64 |
Level II [Member] | Total Securities Available-for-sale [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Assets | 102,794 | 126,905 |
Level II [Member] | U.S. Government Agencies [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Assets | 6,402 | 18,118 |
Level II [Member] | Mortgage-Backed Securities of Government Agencies [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Assets | 55,837 | 63,179 |
Level II [Member] | Other Mortgage-Backed Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Assets | 65 | 104 |
Level II [Member] | Asset-Backed Securities of Government Agencies [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Assets | 1,266 | 1,392 |
Level II [Member] | State and Political Subdivisions [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Assets | 29,708 | 25,301 |
Level II [Member] | Corporate Bonds [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Assets | 9,516 | 18,811 |
Level II [Member] | Total Debt Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Assets | $ 102,794 | $ 126,905 |
Fair Value Measurements - Sch90
Fair Value Measurements - Schedule of Fair Value of Assets Measured on Nonrecurring Basis (Detail) - Fair Value, Measurements, Nonrecurring [Member] - Impaired Loans [Member] - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Assets | $ 6,427 | $ 8,335 |
Level III [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Assets | $ 6,427 | $ 8,335 |
Fair Value Measurements - Sch91
Fair Value Measurements - Schedule of Quantitative Information of Assets Measured at Fair Value on Nonrecurring Basis (Detail) - Impaired Loans [Member] - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Level III [Member] | Discounted Cash Flow [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Fair Value Estimate | $ 5,331 | $ 7,256 |
Level III [Member] | Appraisal of Collateral [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Fair Value Estimate | 1,097 | 1,079 |
Fair Value, Measurements, Nonrecurring [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Fair Value Estimate | 6,427 | 8,335 |
Fair Value, Measurements, Nonrecurring [Member] | Level III [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Fair Value Estimate | $ 6,427 | $ 8,335 |
Fair Value, Measurements, Nonrecurring [Member] | Level III [Member] | Discounted Cash Flow [Member] | Minimum [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Remaining term | 6 months | 2 months |
Discount rate | 3.10% | 3.10% |
Fair Value, Measurements, Nonrecurring [Member] | Level III [Member] | Discounted Cash Flow [Member] | Maximum [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Remaining term | 29 years 10 months 24 days | 2 years 11 months 12 days |
Discount rate | 12.00% | 8.30% |
Fair Value, Measurements, Nonrecurring [Member] | Level III [Member] | Discounted Cash Flow [Member] | Weighted Average [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Remaining term | 61 months 3 days | 55 months |
Discount rate | 4.90% | 4.30% |
Fair Value, Measurements, Nonrecurring [Member] | Level III [Member] | Appraisal of Collateral [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Liquidation expense | (10.00%) | (10.00%) |
Fair Value, Measurements, Nonrecurring [Member] | Level III [Member] | Appraisal of Collateral [Member] | Minimum [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Appraisal adjustments | 0.00% | (20.00%) |
Fair Value, Measurements, Nonrecurring [Member] | Level III [Member] | Appraisal of Collateral [Member] | Maximum [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Appraisal adjustments | (50.00%) | (30.00%) |
Fair Value, Measurements, Nonrecurring [Member] | Level III [Member] | Appraisal of Collateral [Member] | Weighted Average [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Appraisal adjustments | (21.70%) | (26.00%) |
Fair Values of Financial Inst92
Fair Values of Financial Instruments - Schedule of Estimated Fair Values of Recognized Financial Instruments (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Financial assets | ||
Securities available-for-sale | $ 103,875 | $ 127,969 |
Securities held-to-maturity | 23,444 | 34,011 |
Loans held for sale | 47 | |
Bank-owned life insurance | 10,361 | 10,085 |
Mortgage Servicing Rights [Member] | ||
Financial assets | ||
Mortgage servicing rights | 261 | 246 |
Carrying Value [Member] | ||
Financial assets | ||
Cash and cash equivalents | 36,838 | 38,272 |
Securities available-for-sale | 103,875 | 127,969 |
Securities held-to-maturity | 23,883 | 33,819 |
Restricted stock | 4,614 | 4,614 |
Loans held for sale | 47 | |
Net loans | 470,158 | 418,209 |
Bank-owned life insurance | 10,361 | 10,085 |
Accrued interest receivable | 1,409 | 1,513 |
Financial liabilities | ||
Deposits | 540,785 | 525,042 |
Short-term borrowings | 48,742 | 48,598 |
Other borrowings | 12,385 | 13,465 |
Accrued interest payable | 76 | 80 |
Carrying Value [Member] | Mortgage Servicing Rights [Member] | ||
Financial assets | ||
Mortgage servicing rights | 261 | 246 |
Fair Value [Member] | ||
Financial assets | ||
Cash and cash equivalents | 36,838 | 38,272 |
Securities available-for-sale | 103,875 | 127,969 |
Securities held-to-maturity | 23,444 | 34,011 |
Restricted stock | 4,614 | 4,614 |
Loans held for sale | 47 | |
Net loans | 471,815 | 420,181 |
Bank-owned life insurance | 10,361 | 10,085 |
Accrued interest receivable | 1,409 | 1,513 |
Financial liabilities | ||
Deposits | 541,318 | 525,643 |
Short-term borrowings | 48,742 | 48,598 |
Other borrowings | 12,511 | 13,667 |
Accrued interest payable | 76 | 80 |
Fair Value [Member] | Mortgage Servicing Rights [Member] | ||
Financial assets | ||
Mortgage servicing rights | 261 | 246 |
Fair Value [Member] | Level I [Member] | ||
Financial assets | ||
Cash and cash equivalents | 36,838 | 38,272 |
Securities available-for-sale | 1,081 | 1,064 |
Restricted stock | 4,614 | 4,614 |
Loans held for sale | 47 | |
Bank-owned life insurance | 10,361 | 10,085 |
Accrued interest receivable | 1,409 | 1,513 |
Financial liabilities | ||
Deposits | 428,676 | 405,776 |
Short-term borrowings | 48,742 | 48,598 |
Accrued interest payable | 76 | 80 |
Fair Value [Member] | Level II [Member] | ||
Financial assets | ||
Securities available-for-sale | 102,794 | 126,905 |
Securities held-to-maturity | 23,444 | 34,011 |
Fair Value [Member] | Level III [Member] | ||
Financial assets | ||
Net loans | 471,815 | 420,181 |
Financial liabilities | ||
Deposits | 112,642 | 119,867 |
Other borrowings | 12,511 | 13,667 |
Fair Value [Member] | Level III [Member] | Mortgage Servicing Rights [Member] | ||
Financial assets | ||
Mortgage servicing rights | $ 261 | $ 246 |
Fair Values of Financial Inst93
Fair Values of Financial Instruments - Additional Information (Detail) - USD ($) $ in Millions | Dec. 31, 2016 | Dec. 31, 2015 |
Fair Value Disclosures [Abstract] | ||
Commitments to extend credit and letters of credit | $ 163.7 | $ 138.2 |
Accumulated Other Comprehensi94
Accumulated Other Comprehensive Income - Schedule of Changes in Accumulated Other Comprehensive (Loss) Income by Component Net of Tax (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Unrealized holding loss on available-for-sale securities arising during the period, Pretax | $ (1,221) | $ (551) | $ 1,612 |
Amount reclassified for net gains included in net income, Pretax | (1) | (56) | (133) |
Unrealized holding loss on available-for-sale securities arising during the period, Tax Effect | (235) | (50) | 651 |
Amount reclassified for net gains included in net income, Tax Effect | 19 | 45 | |
Beginning balance, After-tax | (417) | ||
Other comprehensive income (loss) | (457) | (135) | 1,174 |
Ending Balance, After-tax | (874) | (417) | |
Accumulated Net Unrealized Investment Gain (Loss) [Member] | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Beginning balance, Pretax | (631) | (427) | |
Unrealized holding loss on available-for-sale securities arising during the period, Pretax | (1,221) | (551) | |
Amount reclassified for net gains included in net income, Pretax | (1) | (56) | |
Amortization of held-to-maturity discount resulting from transfer, Pretax | 530 | 403 | |
Total other comprehensive income (loss), Pretax | (692) | (204) | |
Ending balance, Pretax | (1,323) | (631) | (427) |
Beginning balance, Tax Effect | 214 | 145 | |
Unrealized holding loss on available-for-sale securities arising during the period, Tax Effect | 415 | 187 | |
Amount reclassified for net gains included in net income, Tax Effect | 19 | ||
Amortization of held-to-maturity discount resulting from transfer, Tax Effect | (180) | (137) | |
Total other comprehensive income (loss), Tax Effect | 235 | 69 | |
Ending Balance, Tax Effect | 449 | 214 | 145 |
Beginning balance, After-tax | (417) | (282) | |
Unrealized holding loss on available-for-sale securities arising during the period, After-tax | (806) | (364) | |
Amount reclassified for net gains included in net income, After-tax | (1) | (37) | |
Amortization of held-to-maturity discount resulting from transfer, After-tax | 350 | 266 | |
Other comprehensive income (loss) | (457) | (135) | |
Ending Balance, After-tax | $ (874) | $ (417) | $ (282) |
Contingent Liabilities - Additi
Contingent Liabilities - Additional Information (Detail) | 12 Months Ended |
Dec. 31, 2016 | |
Commitments and Contingencies Disclosure [Abstract] | |
Period of termination | 2 years |
Quarterly Financial Data (Una96
Quarterly Financial Data (Unaudited) - Summary of Quarterly Financial Data (Detail) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Quarterly Financial Information Disclosure [Abstract] | |||||||||||||||
Interest income | $ 6,295 | $ 5,863 | $ 5,813 | $ 5,661 | $ 5,559 | $ 5,463 | $ 5,568 | $ 5,407 | $ 5,401 | $ 5,435 | $ 5,484 | $ 5,336 | $ 23,632 | $ 21,997 | $ 21,656 |
Net interest income | 5,931 | 5,497 | 5,446 | 5,285 | 5,173 | 5,068 | 5,175 | 5,014 | 4,987 | 4,997 | 5,045 | 4,898 | 22,159 | 20,430 | 19,927 |
Net income | $ 1,953 | $ 1,694 | $ 1,611 | $ 1,480 | $ 1,607 | $ 1,556 | $ 1,517 | $ 1,342 | $ 1,439 | $ 1,507 | $ 1,522 | $ 1,416 | $ 6,738 | $ 6,022 | $ 5,884 |
Basic earnings per share | $ 0.72 | $ 0.61 | $ 0.59 | $ 0.54 | $ 0.59 | $ 0.57 | $ 0.55 | $ 0.49 | $ 0.53 | $ 0.55 | $ 0.55 | $ 0.52 | $ 2.46 | $ 2.20 | $ 2.15 |
Diluted earnings per share | $ 0.72 | $ 0.61 | $ 0.59 | $ 0.54 | $ 0.59 | $ 0.57 | $ 0.55 | $ 0.49 | $ 0.53 | $ 0.55 | $ 0.55 | $ 0.52 | $ 2.46 | $ 2.20 | $ 2.15 |